Paragraph 101

(1)

Section 519 (no charge in respect of exercise of option) is amended as follows.

(2)

In subsection (1)(a) for “approved” substitute “ a Schedule 3 SAYE option scheme ”.

(3)

In subsection (3A)—

(a)

in paragraph (a) for “approved” substitute “ a Schedule 3 SAYE option scheme ”,

(b)

in paragraph (b)(i) for “or (4)” substitute “ , (4) or (4A) ”,

(c)

in paragraphs (c), (d) and (f) after sub-paragraph (ii) omit “or” and insert—

“(iia)
the non-UK company reorganisation arrangement, or”, and

(d)

in paragraph (e) after sub-paragraph (ii) omit “or” and insert—

“(iia)
the making of any non-UK company reorganisation arrangement which would fall within subsection (3H), or”.

(4)

In subsection (3H)—

(a)

after “arrangement” insert “ or a non-UK company reorganisation arrangement ”, and

(b)

in paragraph (b) for “an approved” substitute “ a Schedule 3 ”.

(5)

In subsection (5)(b)—

(a)

for “paragraph 42(3) provides” substitute “ paragraphs 40H(4) and 40I(9) provide ”,

(b)

for “approved” substitute “ a Schedule 3 SAYE option scheme ”, and

(c)

for “approval of the scheme has been previously withdrawn” substitute “ the scheme is not a Schedule 3 SAYE option scheme ”.