{
  "url": "https://openlegislation.uk/finance-act-2003/schedule-22/paragraph-41",
  "json_url": "https://openlegislation.uk/finance-act-2003/schedule-22/paragraph-41.json",
  "legislation": "ukpga/2003/14",
  "legislation_title": "Finance Act 2003",
  "legislation_url": "https://openlegislation.uk/finance-act-2003",
  "path": "schedule/22/paragraph/41",
  "kind": "paragraph",
  "number": "41",
  "heading": null,
  "text": "(1) In section 541 (enterprise management incentives: effect on other income tax charges), for subsections (1) and (2) substitute—\n“(1) Nothing in the EMI code affects—\n(a) the operation of Chapters 2 to 4 of this Part in relation to shares acquired under a qualifying option, or\n(b) the operation of Chapter 5 of this Part otherwise than in relation to the acquisition of shares under a qualifying option.\n(2) But in calculating the taxable amount for the purposes of section 426 (post-acquisition charge on restricted securities) in respect of shares acquired under a qualifying option, the amount of relief on the exercise of the option is to be regarded as a deductible amount for the purposes of section 428 (amount of charge).”.\n(2) So far as relating to—\n(a) Chapter 9 of Part 3 (which is repealed and replaced by provisions inserted in Part 7),\n(b) any of the new Chapters substituted or inserted in Part 7 by this Schedule, and\n(c) each of the Chapters of that Part as originally enacted for which new Chapters are substituted by this Schedule,\nsub-paragraph (1) has effect in accordance with the provision made for the taking effect of the repeal, substitution or insertion.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/14/schedule/22/paragraph/41",
    "retrieved_at": "2026-10-29T09:18:27.996599+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}