SCHEDULES
SCHEDULE 8Employee share schemes
PART 2SAYE option schemes
99Amendments to Chapter 7 of Part 7 of ITEPA 2003
1
Section 516 (introduction to SAYE option schemes) is amended as follows.
2
In the heading omit “Approved”.
3
In subsection (1)—
a
omit paragraph (a) and the “and” after it, and
b
in paragraph (b) for “those” substitute “SAYE option schemes which are Schedule 3 SAYE option”.
4
Omit subsection (2).
5
In subsection (3)(c) for “approved” substitute “Schedule 3”.
6
In subsection (4)—
a
omit the definition of “approved”, and
b
after the definition of “SAYE option scheme” insert—
“Schedule 3 SAYE option scheme” is to be read in accordance with paragraph 1 and Part 8 of Schedule 3;