{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-9/paragraph-29",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-9/paragraph-29.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/29",
  "kind": "paragraph",
  "number": "29",
  "heading": null,
  "text": "(1) The price at which scheme shares may be acquired by the exercise of a right obtained under the scheme—\n(a) must be stated at the time the right is obtained, and\n(b) must not be manifestly less than the market value of shares of the same class at that time or, if the Board and the grantor agree in writing, at such earlier time or times as may be provided in the agreement.\n(7) The scheme may provide for such variation of the price at which scheme shares may be acquired as may be necessary to take account of any variation in the share capital of which the scheme shares form part.\n(8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 29 substituted (1.1.1992) by Finance Act 1991 (c. 31, SIF 63:1), s. 39(1)(7)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 9 para. 29(1) substituted for para. 29(1)-(6) (with effect in accordance with s. 114(10) of the amending Act) by Finance Act 1996 (c. 8), s. 114(3)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 9 para. 29(8) repealed (with effect in accordance with s. 114(10) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. 5(5), Note 3"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/1/schedule/9/paragraph/29",
    "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."
}