# Income Tax (Earnings and Pensions) Act 2003, Paragraph 92

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

(1) For the purposes of the SIP code the “market value” of shares has the same meaning as it has for the purposes of TCGA 1992 by virtue of Part 8 of that Act.
(2) For the purposes of this Schedule the market value of shares subject to a restriction is to be determined as if they were not subject to the restriction.
(3) Where the market value of shares on any date has to be determined for the purposes of the SIP code, an officer of Revenue and Customs and the trustees may agree that it is to be determined by reference—
(a) to a date or dates, or
(b) to an average of the values on a number of dates,
stated in the agreement.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/2/paragraph/92 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-2/paragraph-92
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.