SCHEDULES
SCHEDULE 2Transitionals and savings
Part 10Special rules about settlements and trustees
Share incentive plans: definition of “applicable period”
103
1
This paragraph applies for the purposes of section 489 if the relevant shares (see subsection (1) of that section) were acquired by the trustees before 11 May 2001.
2
That section applies in relation to those shares with the following modifications.
3
It applies as if subsection (2) were omitted.
4
It applies as if in subsection (3) the words “If any were” were omitted.
5
It applies as if in subsection (4)—
a
for “If none were” there were substituted “
But if when the trustees acquired the relevant shares none of the shares in the relevant company were readily convertible assets
”
, and
b
in paragraph (b) for “any shares in the relevant company” there were substituted “
the relevant shares
”
.
6
It applies as if in subsection (5) for “(2) to” there were substituted “
(3) and
”
.