Paragraph 85

In regulation 2 (interpretation) in paragraph (1)(a)—

(a)

omit the definition of “approved SIP”,

(b)

in the definitions of “ceasing to be subject to the plan”, “participant” and “plan shares” for “an approved” substitute “ a Schedule 2 ”, and

(c)

at the appropriate place insert—

““Schedule 2 SIP” shall be construed in accordance with the SIP code (see section 488(3) of ITEPA 2003);”.