{
  "url": "https://openlegislation.uk/finance-act-1989/schedule-5/paragraph-10",
  "json_url": "https://openlegislation.uk/finance-act-1989/schedule-5/paragraph-10.json",
  "legislation": "ukpga/1989/26",
  "legislation_title": "Finance Act 1989",
  "legislation_url": "https://openlegislation.uk/finance-act-1989",
  "path": "schedule/5/paragraph/10",
  "kind": "paragraph",
  "number": "10",
  "heading": null,
  "text": "The trust deed must not contain features which are not essential orreasonably incidental to the purpose of acquiring sums and securities, granting rights to acquire shares to persons who are eligible to participate in SAYE option schemes approved under Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003, transferring shares to such persons, transferring sums and securities to employees and directors, and transferringsecurities to the trustees of profit sharing schemes approved under Schedule 9 to the Taxes Act 1988.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 5 para. 10 inserted (29.4.1996 with effect in relation to trusts established on or after 29.4.1996) by 1996 c. 8, s. 120(11)(a)(12)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 5 para. 10 substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 163(4)(a) (with Sch. 7)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 5 para. 10 substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 163(4)(b) (with Sch. 7)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "See Finance Act 1990 (c. 29) ss.31–40—roll-over relief for disposal of shares to employeeshare ownership trusts"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1989/26/schedule/5/paragraph/10",
    "retrieved_at": "2026-10-29T09:46:42.124806+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}