Paragraph 51
United Kingdom
(1)
The partnership share agreement must specify—
(a)
the ratio of matching shares to partnership shares for the time being offered by the company, and
(b)
the circumstances and manner in which the ratio may be changed by the company.
(2)
The ratio must not exceed 2:1 and must be applied by reference to the number of shares.
(3)
A partnership share agreement must provide for the employee to be informed by the company if the ratio offered by the company changes before partnership shares are awarded to him under the agreement.
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Sch. 8 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)