SCHEDULES

SCHEDULE 8Employee share schemes

PART 3CSOP schemes

Amendments to Chapter 8 of Part 7 of ITEPA 2003

162

1

Section 524 (no charge in respect of exercise of option) is amended as follows.

2

In subsection (1)(a) for “approved” substitute “ a Schedule 4 CSOP scheme ”.

3

In subsection (2E)—

a

in paragraph (a) for “approved” substitute “ a Schedule 4 CSOP scheme ”,

b

in paragraphs (c), (d) and (f) after sub-paragraph (ii) omit “or” and insert—

iia

the non-UK company reorganisation arrangement, or

c

in paragraph (e) after sub-paragraph (ii) omit “or” and insert—

iia

the making of any non-UK company reorganisation arrangement which would fall within subsection (2L), or

4

In subsection (2L)—

a

after “arrangement” insert “ or a non-UK company reorganisation arrangement ”, and

b

in paragraph (b) for “an approved” substitute “ a Schedule 4 ”.