542 Exemption: offer made to public and employees
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Chapter 10
Priority Share Allocations

Exemption where offer made to both public and employees

542  Exemption: offer made to public and employees

(1)     This section applies if—

(a)     there is a genuine offer to the public of shares in a company at a fixed price or by tender,

(b)     a director or employee of the company, or of another company or person, is entitled by reason of the office or employment to

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