Finance Act 2013 (c. 29)

SCHEDULES

SCHEDULE 2 U.K. Tax advantaged employee share schemes

PART 3 U.K. Material interest rules

SAYE option schemes U.K.

39 U.K. Part 3 of Schedule 3 (eligibility of individuals) is amended as follows.

40 U.K. In paragraph 9 (introduction) omit the entry for paragraph 11 and the “and” before it.

41 U.K. Omit paragraphs 11 to 16 (the “no material interest” requirement).

42 U.K. In Part 9 of Schedule 3 (supplementary provisions) in paragraph 49 (index of defined expressions), in the entry for “close company”, omit “(and see paragraph 11(4))”.

43 (1) The amendments made by paragraphs 39 to 42 above have effect for the purpose of determining whether an individual is eligible to participate in a scheme on the day on which this Act is passed or any later day. U.K.

(2) A SAYE option scheme approved before the day on which this Act is passed has effect accordingly with the omission of any provision falling within a provision of Schedule 3 to ITEPA 2003 omitted by those paragraphs.