# Income and Corporation Taxes Act 1988, Paragraph 11

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

Scheme shares must be—
(a) shares of a class listed on a recognised stock exchange; or
(b) shares in a company which is not under the control of another company; or
(c) shares in a company which is under the control of a company (other than a company which is, or would if resident in the United Kingdom be, a close company), whose shares are listed on a recognised stock exchange.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/9/paragraph/11 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-9/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.