# Income and Corporation Taxes Act 1988, Paragraph 3

Extent: E+W+S+N.I.

(1) For the purposes of any of the relevant provisions under which an amount counts as employment income of an individual by reason of the occurrence of an event relating to any of his shares, the “appropriate percentage” in relation to those shares is 100 per cent., unless sub-paragraph (2) below applies.
(2) Where the individual—
(a) ceases to be a director or employee of the grantor or, in the case of a group scheme, a participating company as mentioned in paragraph 2(a) above, or
(b) reaches the relevant age,
before the event occurs, the “appropriate percentage” is 50 per cent., unless paragraph 6(4) below applies.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/10/paragraph/3 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-10/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.