# Income Tax (Earnings and Pensions) Act 2003, Paragraph 56

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

The removal or variation of a restriction applying to shares or an interest in shares acquired before 26th October 1987 is not a chargeable event for the purposes of section 449 , as originally enacted, if paragraph 7 of Schedule 8 to FA 1973 (requirement for disposal to nominees at price not exceeding market value on termination of employment) would have applied to it.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/7/paragraph/56 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-7/paragraph-56
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.