Paragraph 25

United Kingdom

(1)

Sub-paragraph (2) applies if the plan provides for performance allowances, that is for—

(a)

whether or not free shares will be awarded to an individual, or

(b)

the number or value of free shares awarded,

to be conditional on performance targets being met.

(2)

Where this sub-paragraph applies—

(a)

the requirements of—

paragraph 26 (performance allowances: general application),

paragraph 27 (performance measures and targets), and

paragraph 28 (performance allowances: information to be given to employees), and

(b)

the requirements of either paragraph 29 (method one) or paragraph 30 (method two),

must be complied with.

Notes on Schedule 8

F1: Sch. 8 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)