This section has no associated Explanatory Notes
[F15(1)The purpose of the scheme must be to provide, in accordance with this Schedule, benefits for employees and directors in the form of share options.U.K.
(2)The scheme must not provide benefits to employees or directors otherwise than in accordance with this Schedule.
(3)For example, the scheme must not provide cash as an alternative to share options or shares which might otherwise be acquired by the exercise of share options.]
Textual Amendments
F1Sch. 3 para. 5 substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 108, 146 (with Sch. 8 paras. 147-157)