{
  "url": "https://openlegislation.uk/finance-act-1989/schedule-5/paragraph-12",
  "json_url": "https://openlegislation.uk/finance-act-1989/schedule-5/paragraph-12.json",
  "legislation": "ukpga/1989/26",
  "legislation_title": "Finance Act 1989",
  "legislation_url": "https://openlegislation.uk/finance-act-1989",
  "path": "schedule/5/paragraph/12",
  "kind": "paragraph",
  "number": "12",
  "heading": null,
  "text": "A trust which was at the time it was established a qualifying employeeshare ownership trust shall continue to be one, except that it shall not besuch a trust at any time when the requirements mentioned in paragraph 3(3)(a)to (f) above are not satisfied. This paragraph applies in relation to trusts established on or before the day on which the Finance Act 1994 was passed.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 5 para. 12 inserted (3.5.1994) by 1994 c. 9, s. 102, Sch. 13 para. 4"
    },
    {
      "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/12",
    "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."
}