PART 2CONSEQUENTIAL AMENDMENTS TO PRIMARY LEGISLATION COMING INTO FORCE ON 6TH APRIL 2008
The Income Tax (Earnings and Pensions) Act 2003 (c. 1)
Approved SAYE option schemes32
1
Amend Schedule 3 as follows.
2
In paragraph 37(4) for paragraphs (a) and (b) substitute “section 899 of the Companies Act 2006 (court sanction for compromise or arrangement)”.
3
In paragraph 38(2) for paragraphs (b) and (c) substitute—
b
obtains control of the scheme company as a result of a compromise or arrangement sanctioned by the court under section 899 of the Companies Act 2006 (court sanction for compromise or arrangement); or
c
becomes bound or entitled to acquire shares in the scheme company under sections 979 to 982 of that Act (takeover offers: right of offeror to buy out minority shareholder).