86 Shares in employee-controlled companies and unconnected companies
Finance Act 2004 (2004 c 12) | Legislation

86  Shares in employee-controlled companies and unconnected companies

(1)     Each of the provisions of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (c 1) (employment income: securities) specified in subsection (2) (exception from charges for certain company shares) is amended in accordance with subsections (3) to (5).

(2)     The provisions are—

(a)     section 429 (restricted securities),

(b)     section 443 (convertible securities),

(c)     section 446R (securities acquired for less than market value), and

(d)     section 449 (post-acquisition benefits from securities).

(3)     In subsection (1) of each of those sections, after paragraph (b) (but before the word “and” where that word features at the end) insert—

“(ba)     subsection (1A) is satisfied,” .

(4)

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