Paragraph 69

(1)

Any reference in any enactment, instrument or document—

(a)

to an employee share ownership plan, or

(b)

to an employee share ownership plan approved under Schedule 8 to FA 2000,

is to be read as including, in relation to times after 5th April 2003, a reference to a share incentive plan or to a share incentive plan approved under Schedule 2 to this Act.

(2)

Any reference in any enactment, instrument or document—

(a)

to a share incentive plan (or SIP), or

(b)

to a share incentive plan (or SIP) approved under Schedule 2 to this Act,

is to be read as including, in relation to times before 6th April 2003, a reference to an employee share ownership plan or to an employee share ownership plan approved under Schedule 8 to FA 2000.

(3)

Accordingly any reference in the SIP code to shares awarded under an approved SIP is to be read as including, in relation to times before 6th April 2003, a reference to shares awarded under a plan approved under Schedule 8 to FA 2000.

(4)

Any reference in a plan within paragraph 68(1) to a person chargeable to tax under Case I of Schedule E is to be read as including, in relation to times after 5th April 2003, a reference to a person whose earnings fall within paragraph 8(2) of Schedule 2 to this Act.

(5)

This paragraph—

(a)

is without prejudice to Part 1 of this Schedule, and

(b)

applies only in so far as the context permits.

(6)

In this paragraph—

“awarded” means appropriated to, or acquired on behalf of, a person;
“employee share ownership plan” has the same meaning as in paragraph 68.

Notes on Part 7

Textual amendments

F1: Words in Sch. 7 Pt. 7 heading substituted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(4)