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Paragraph 160

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amend section 69 (chargeable events in relation to employee share ownership trusts) as follows.

(2)

In subsection (3AA)—

(a)

in paragraph (a) for “an employee share ownership” substitute “ a share incentive ”, and

(b)

in paragraph (b) for “Schedule 8 to the Finance Act 2000” substitute “ Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003 ”.

(3)

In the definition of “market value” in subsection (3AC), for “in Schedule 8 to the Finance Act 2000” substitute “ it has for the purposes of the SIP code (see paragraph 92 of Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003) ”.

(4)

In subsection (4ZA)(b)—

(a)

for “a savings-related share option scheme within the meaning of Schedule 9 to the Taxes Act 1988” substitute “ an SAYE option scheme within the meaning of the SAYE code (see section 516(4) of the Income Tax (Earnings and Pensions) Act 2003) ”, and

(b)

in sub-paragraph (ii) for “that Schedule” substitute “ Schedule 3 to that Act ”.