SCHEDULES
SCHEDULE 2F1... share incentive plans
Part 3Eligibility of individuals
Qualifying periods
16
1
This paragraph applies if the plan provides for a qualifying period in relation to an award.
2
In the case of an award of free shares, the qualifying period must be a period of not more than 18 months ending with the date on which the award is made.
3
In the case of an award of partnership shares where the plan does not provide for an accumulation period, the qualifying period must be a period of not more than 18 months ending with the deduction of partnership share money relating to the award.
4
In the case of an award of partnership shares where the plan does provide for an accumulation period, the qualifying period must be a period of not more than 6 months ending with the start of the accumulation period relating to the award.
5
In the case of an award of matching shares where the plan does not provide for an accumulation period, the qualifying period must be a period of not more than 18 months ending with the deduction of partnership share money relating to the award of partnership shares to which the matching shares relate.
6
In the case of an award of matching shares where the plan does provide for an accumulation period, the qualifying period must be a period of not more than 6 months ending with the start of the accumulation period relating to the award of partnership shares to which the matching shares relate.
7
In relation to an award, the same qualifying period must apply in relation to all employees—
a
of the company, or
a
in the case of a group plan, of the constituent companies.
8
The plan may authorise the company to specify different qualifying periods in respect of different awards of shares, but the requirements in sub-paragraphs (2) to (7) apply to periods so specified.
Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)