Finance Act 2013 (c. 29)

SCHEDULES

SCHEDULE 2 U.K. Tax advantaged employee share schemes

PART 6 U.K. Share incentive plans: dividend shares

Company's power to direct reinvestment of cash dividends U.K.

83 (1) Paragraph 62 (reinvestment of dividends) is amended as follows. U.K.

(2) In sub-paragraph (1) for the first “all” substitute “ some or all of the ”.

(3) After sub-paragraph (1) insert—

“(1A) The company's direction must set out—

(a) the amount of the cash dividends to be applied as mentioned in sub-paragraph (1), or

(b) how that amount is to be determined.”

(4) In sub-paragraph (4) after “may” insert “ modify or ”.