This paragraph applies to the determination of the market value of shares for the purposes of the EMI code.

Where the market value of shares on any date needs to be determined for the purposes of the EMI code, F1an officer of Revenue and Customs and the employer company may agree that it is to be determined by reference to a date or dates, or to the average of the values on a number of dates, stated in the agreement.

At any time before notice of F1an officer of Revenue and Customs determination has been given to the employer company, F4the company may apply to the tribunal for the question of the market value of the shares to be determined.

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Any such application is to be subject to the relevant provisions of Part 5 of TMA 1970 (see, in particular, section 48(2)(b) of that Act).