# Finance Act 2013, Paragraph 20


(1) In Part 5 of Schedule 2 (free shares) in paragraph 37 (holding period: power of participant to direct trustees to accept general offers etc) after sub-paragraph (6) insert—
“(7) For the purposes of sub-paragraph (5) it does not matter if the general offer is made to different shareholders by different means.
(8) If in the case of a takeover offer (as defined in section 974 of the Companies Act 2006) there arises a right under section 983 of that Act to require the offeror to acquire the participant's free shares, or such of them as are of a particular class, the participant may direct the trustees to exercise that right.”
(2) A SIP approved before the day on which this Act is passed has effect with any modifications needed to reflect the amendment made by this paragraph.

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/2/paragraph/20 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-2/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.