{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-9/paragraph-1",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-9/paragraph-1.json",
  "legislation": "ukpga/1988/1",
  "legislation_title": "Income and Corporation Taxes Act 1988",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988",
  "path": "schedule/9/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "(1) Subject to the provisions of this Schedule, on the application of a body corporate (“the grantor”) which has established a share option scheme or a profit sharing scheme, the Board shall approve the scheme if they are satisfied that it fulfils such requirements of Part II and this Part as apply in relation to the scheme in question, and the requirements of Part III, IV or V of this Schedule; and in this Schedule—\n“the relevant requirements” means, in relation to any scheme, the requirements of this Schedule by reference to which the scheme is approved; and\n“savings-related share option scheme” means a scheme in relation to which the relevant requirements include the requirements of Part III of this Schedule.\n(2) An application under sub-paragraph (1) above shall be made in writing and contain such particulars and be supported by such evidence as the Board may require.\n(3) Where the grantor has control of another company or companies, the scheme may be expressed to extend to all or any of the companies of which it has control and in this Schedule a scheme which is expressed so to extend is referred to as a “group scheme”.\n(4) In relation to a group scheme the expression “participating company” means the grantor or any other company to which for the time being the scheme is expressed to extend.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 9 Pts. 1, 2, 6 repealed (except for specified purposes) (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 112(1), Sch 8 Pt. 1 (with Sch. 7)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "Source—1978 Sch.9 1(1)(a); 1980 Sch.10 1(1)(a); 1984 Sch.10 1(1)"
    },
    {
      "type": "M",
      "label": "M2",
      "text": "Source—1978 Sch.9 1(5); 1980 Sch.10 1(2); 1984 Sch.10 1(2)"
    },
    {
      "type": "M",
      "label": "M3",
      "text": "Source—1978 Sch.9 1(2); 1980 Sch.10 1(3); 1984 Sch.10 1(3)"
    },
    {
      "type": "M",
      "label": "M4",
      "text": "Source—1978 Sch.9 1(2); 1980 Sch.10 1(3); 1984 Sch.10 1(4)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/1/schedule/9/paragraph/1",
    "retrieved_at": "2026-10-29T09:49:54.309394+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}