Paragraph 15

Repealed

(1)

The plan must provide that an individual is not eligible to participate in an award of shares unless the individual meets the requirement in sub-paragraph (2).

(2)

The requirement is that the individual—

(a)

is an employee of—

(i)

the company, or

(ii)

in the case of a group plan, a constituent company, and

(b)

if the plan provides for a qualifying period, has at all times during that period been an employee of a qualifying company.

(3)

In the SIP code “the employment requirement” means the requirement in sub-paragraph (2).

(4)

This paragraph is supplemented—

(a)

as regards qualifying periods, by paragraph 16, and

(b)

as regards the meaning of “qualifying company”, by paragraph 17.

Notes on Schedule 2

Textual amendments

F1: Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)