SCHEDULES

SCHEDULE 3Employee share schemes: minor amendments

Exercise of EMI options

9

1

In section 238A of TCGA 1992 (share schemes and share incentives), in subsection (2), omit paragraph (d) and the preceding “and”.

2

In Schedule 7D to TCGA 1992 (share schemes and share incentives), omit Part 4.

3

In section 527 of ITEPA 2003 (enterprise management incentives: qualifying options), in subsection (3)—

a

after paragraph (a) insert “ and ”;

b

omit paragraph (c) and the preceding “and”.

4

The amendments made by this paragraph do not affect—

a

the application of paragraph 14(4) of Schedule 7D to TCGA 1992 in relation to a disqualifying event occurring before 6 April 2016, or

b

the application of paragraph 16 of that Schedule in relation to an allotment for payment mentioned in section 126(2)(a) of that Act taking place before 6 April 2016.