The Transfer of Undertakings (Protection of Employment) Regulations 2006

This section has no associated Explanatory Memorandum

12.—(1) The Income Tax (Earnings and Pensions) Act 2003(1) is amended as follows.U.K.

(2) In section 498 (no charge on shares ceasing to be subject to share incentive plan in certain circumstances), in subsection (2)(c), for the words from “a transfer” to the end there is substituted “a relevant transfer within the meaning of the Transfer of Undertakings (Protection of Employment) Regulations 2006”.

(3) In Schedule 2 (approved share incentive plans), in paragraph 32(2)(c), for the words from “a transfer” to the end there is substituted “a relevant transfer within the meaning of the Transfer of Undertakings (Protection of Employment) Regulations 2006”.

Commencement Information

I1Sch. 2 para. 12 in force at 6.4.2006, see reg. 1(2)