# Finance Act 2003, Paragraph 18

Extent: E+W+S+N.I.

(1) Section 701(2)(c) (PAYE: exclusions from meaning of “asset”) is amended as follows.
(2) In sub-paragraph (i), omit “or 4 (approved CSOP schemes)”.
(3) After that sub-paragraph insert—
“(ia) any shares acquired by the employee (whether or not as a result of the exercise of a right to acquire shares) under a scheme approved under Schedule 4 (approved CSOP schemes), other than shares acquired as a result of the exercise of the right before the third anniversary of the date on which it was granted or later than the tenth anniversary of that date;”.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) This paragraph has effect in relation to shares acquired on or after 9th April 2003.

---
Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/21/paragraph/18 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-21/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.