{
  "url": "https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-22A",
  "json_url": "https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-22A.json",
  "legislation": "ukpga/2000/17",
  "legislation_title": "Finance Act 2000",
  "legislation_url": "https://openlegislation.uk/finance-act-2000",
  "path": "schedule/15/paragraph/22A",
  "kind": "paragraph",
  "number": "22A",
  "heading": null,
  "text": "(1) If the issuing company is a single company, the full-time equivalent employee number for it must be less than 50 when the relevant shares are issued.\n(2) If the issuing company is a parent company, the sum of—\n(a) the full-time equivalent employee number for it, and\n(b) the full-time equivalent employee numbers for each of its qualifying subsidiaries,\nmust be less than 50 when the relevant shares are issued.\n(3) The full-time equivalent employee number for a company is calculated as follows—\nStep 1\nFind the number of full-time employees of the company.\nStep 2\nAdd, for each employee of the company who is not a full-time employee, such fraction as is just and reasonable.\nThe result is the full-time equivalent employee number.\n(4) In this paragraph references to an employee—\n(a) include a director, but\n(b) do not include—\n(i) an employee on maternity , paternity , shared parental or parental bereavement leave, or\n(ii) a student on vocational training.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 15 para. 22A and cross-heading inserted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 16 para. 1(3) (with Sch. 16 para. 1(4))"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 15 para. 22A(4)(b)(i) substituted (1.12.2014) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 49; S.I. 2014/1640, art. 5(2)(r)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 15 para. 22A(4)(b)(i) substituted (18.1.2020) by Parental Bereavement (Leave and Pay) Act 2018 (c. 24), s. 2(2), Sch. para. 34; S.I. 2020/45, reg. 2"
    }
  ],
  "outstanding_effects": [
    {
      "type": "inserted",
      "affecting": "asp/2001/8",
      "affecting_title": "Regulation of Care (Scotland) Act 2001"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/17/schedule/15/paragraph/22A",
    "retrieved_at": "2026-10-29T09:21:00.128981+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."
}