Income Tax (Earnings and Pensions) Act 2003 (c. 1)

SCHEDULES

SCHEDULE 7 U.K. Transitionals and savings

Part 7 U.K. Employment income: [F1 income related to securities]

Textual Amendments

F1 Words in Sch. 7 Pt. 7 heading substituted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(4)

Approved CSOP schemes U.K.

74 (1) Any reference in the CSOP code to a share option granted in accordance with the provisions of an approved CSOP 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 discretionary share option scheme approved under Schedule 9 to ICTA. U.K.

(2) This paragraph—

(a) is without prejudice to Part 1 of this Schedule,

(b) applies only in so far as the context permits, and

(c) has effect subject to paragraph 75.

(3) In this paragraph “discretionary share option scheme” has the same meaning as in paragraph 73.