Paragraph 50

United Kingdom

(1)

The plan must provide for the matching shares—

(a)

to be shares of the same class and carrying the same rights as the partnership shares to which they relate;

(b)

to be awarded on the same day as the partnership shares to which they relate are awarded; and

(c)

to be awarded to all employees who participate in the award on exactly the same basis.

(2)

Sub-paragraph (1) is subject to paragraph 65 (permitted restrictions: provision for forfeiture).

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F1: Sch. 8 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)