http://www.legislation.gov.uk/ukpga/2013/29/schedule/2/paragraph/56/2013-07-17
Finance Act 2013
An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.
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Statute Law Database
2024-06-13
Expert Participation
2013-07-17
SCHEDULES
SCHEDULE 2Tax advantaged employee share schemes
PART 4Restricted shares
Share incentive plans
56
In paragraph 99 (minor definitions) after sub-paragraph (3) insert—
4
For the purposes of the SIP code—
a
shares are subject to a “restriction” if there is any contract, agreement, arrangement or condition which makes provision to which any of subsections (2) to (4) of section 423 (restricted securities) would apply if the references in those subsections to the employment-related securities were to the shares, and
b
the “restriction” is that provision.