544 Exemption: different offers made to public and employees
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Exemption where different offers made to public and employees

544  Exemption: different offers made to public and employees

(1)     This section applies if—

(a)     there is a genuine offer to the public of a combination of shares in two or more companies at a fixed price or by tender (“the public offer”),

(b)     there is at the same time an offer (“the employee offer”) of shares, or of a combination of shares, in one or more, but not all, of those companies—

(i)     to directors or employees of any of those companies, or of any other company or

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