# Finance Act 2014, Paragraph 20


(1) Paragraph 19 of Schedule 3 to ITEPA 2003 (SAYE option schemes: requirements as to listing) is amended as follows.
(2) In sub-paragraph (1), omit the “or” at the end of paragraph (b) and after that paragraph insert—
“(ba) shares in a company which is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2), or”.
(3) After sub-paragraph (2) insert—
“(3) But a company is not a close company for the purposes of sub-paragraph (2) if it is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2).”
(4) The amendments made by this paragraph come into force on 1 October 2014.

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Source: https://www.legislation.gov.uk/ukpga/2014/26/schedule/37/paragraph/20 (the official version)
Page: https://openlegislation.uk/finance-act-2014/schedule-37/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.