Part 4 Restricted Shares
Finance Act 2013 (2013 c 29) | Legislation

Part 4 Restricted Shares

Introduction

45

Part 7 of ITEPA 2003 (employment income: income and exemptions relating to securities) is amended as follows.

Share incentive plans

46

Part 4 of Schedule 2 (types of shares that may be awarded) is amended as follows.

47

In paragraph 25 (introduction) in sub-paragraph (1)—

(a)     after the entry for paragraph 28 insert “andâ€, and

(b)     omit the entry for paragraph 30 and the “and†before it.

48

Omit paragraphs 30 to 33 (only certain kinds of restrictions allowed).

49

In Part 5 of Schedule 2 (free shares) in paragraph 35 (maximum annual award) omit sub-paragraphs (3) and (4).

50

In Part 6 of Schedule 2 (partnership shares) in paragraph 43 (introduction) after sub-paragraph (2) insert—

“(2A)     The plan must provide that partnership shares are not to be subject to any provision for forfeiture.â€

51

In Part 7 of Schedule 2 (matching shares) in paragraph 59 (general requirement for matching shares) omit sub-paragraph (2).

52

In Part 9 of Schedule 2 (trustees) in paragraph 75 (duty to give notice of award of shares etc) in sub-paragraphs (2) and (3) after paragraph (a) insert—

“(²¹²¹)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Third party rights—the common law doctrine of privity of contract

Third party rights—the common law doctrine of privity of contractThis Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

LEXISNEXIS

Defects liability period and rectification of defects

Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a

LEXISNEXIS

The British Franchise Association (BFA)

The British Franchise Association (BFA)This Practice Note examines the role and remit of the British Franchise Association (the BFA) in the franchise industry in the UK. It looks at the legislative and regulatory framework in the franchise industry, the membership criteria of the BFA, the BFA’s Code