# Income and Corporation Taxes Act 1988, Paragraph 39


In applying section 187(3), as respects any time before or after the passing of this Act, there shall be disregarded—
(a) the interest of the trustees of an approved profit sharing scheme in any shares which are held by them in accordance with the scheme and have not yet been appropriated to an individual; and
(b) any rights exercisable by those trustees by virtue of that interest.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/9/paragraph/39 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-9/paragraph-39
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.