SCHEDULES
SCHEDULE 7Transitionals and savings
Part 7Employment income: F1income related to securities
Approved SAYE option schemes
72
1
Any reference in the SAYE code to a share option granted in accordance with the provisions of an approved SAYE option scheme is to be read as including, in relation to times before 6th April 2003, a reference to a right to acquire shares obtained in accordance with the provisions of a savings-related share option scheme approved under Schedule 9 to ICTA.
2
Any reference in a scheme within paragraph 71(1) to a person chargeable to tax under Case I of Schedule E is to be read as including, in relation to times after 5th April 2003, a reference to a person whose earnings fall within paragraph 6(2)(c) of Schedule 3 to this Act.
3
This paragraph—
a
is without prejudice to Part 1 of this Schedule, and
b
applies only in so far as the context permits.
4
In this paragraph “savings-related share option scheme” has the same meaning as in paragraph 71.
Words in Sch. 7 Pt. 7 heading substituted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(4)