# Income Tax (Earnings and Pensions) Act 2003, Paragraph 19

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

(1) Eligible shares must be—
(a) shares of a class listed on a recognised stock exchange,
(b) shares in a company which is not under the control of another company, ...
(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
(c) shares in a company which is under the control of a listed company.
(2) A “listed company” is a company whose shares are listed on a recognised stock exchange, other than—
(a) a close company, or
(b) a company that would be a close company if resident in the United Kingdom.
(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).

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/3/paragraph/19 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.