SCHEDULES
SCHEDULE 2F1... share incentive plans
Part 2General requirements
No preferential treatment for directors and senior employees
10
1
The first requirement of this paragraph is that no feature of the plan has or is likely to have the effect of conferring benefits wholly or mainly—
a
on directors, or
b
on employees receiving the higher or highest levels of remuneration.
2
The second requirement of this paragraph applies only if the plan is established by a company that is a member of a group.
3
The requirement is that the identity of the company (or, if it is a group plan, the constituent companies) must not be such that the plan has or is likely to have the effect of conferring benefits wholly or mainly—
a
on employees of companies that are members of the group who receive the higher or highest levels of remuneration, or
b
on directors of such companies.
4
The requirements of this paragraph are not infringed by the awarding of free shares in circumstances where (as a result of paragraph 9(3) and (4)) that would not constitute an infringement of the requirements of paragraph 9.
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)