Paragraph 34
United Kingdom
The plan must provide for qualifying employees to enter into agreements with the company (“partnership share agreements”) under which—
(a)
the employee authorises the company to deduct part of his salary for the purchase of partnership shares, and
(b)
the company undertakes to arrange for partnership shares to be awarded to the employee in accordance with the plan.
Notes on Schedule 8
Textual amendments
- 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Sch. 8 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)