{
  "url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-19",
  "json_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-19.json",
  "legislation": "ukpga/2003/1",
  "legislation_title": "Income Tax (Earnings and Pensions) Act 2003",
  "legislation_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003",
  "path": "schedule/3/paragraph/19",
  "kind": "paragraph",
  "number": "19",
  "heading": null,
  "text": "(1) Eligible shares must be—\n(a) shares of a class listed on a recognised stock exchange,\n(b) shares in a company which is not under the control of another company, ...\n(ba) shares in a company which is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2), or\n(c) shares in a company which is under the control of a listed company.\n(2) A “listed company” is a company whose shares are listed on a recognised stock exchange, other than—\n(a) a close company, or\n(b) a company that would be a close company if resident in the United Kingdom.\n(3) But a company is not a close company for the purposes of sub-paragraph (2) if it is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in Sch. 3 para. 19(1)(b) omitted (1.10.2014) by virtue of Finance Act 2014 (c. 26), Sch. 37 para. 20(2)(4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 3 para. 19(1)(ba) inserted (1.10.2014) by Finance Act 2014 (c. 26), Sch. 37 para. 20(2)(4)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 3 para. 19(3) inserted (1.10.2014) by Finance Act 2014 (c. 26), Sch. 37 para. 20(3)(4)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/1/schedule/3/paragraph/19",
    "retrieved_at": "2026-10-29T09:18:42.395488+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."
}