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”, and

(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 ”.