{
  "url": "https://openlegislation.uk/income-tax-employmentsnotional-payments-amendment-regulations-1996/regulation-2",
  "json_url": "https://openlegislation.uk/income-tax-employmentsnotional-payments-amendment-regulations-1996/regulation-2.json",
  "legislation": "uksi/1996/2969",
  "legislation_title": "The Income Tax (Employments)(Notional Payments) (Amendment) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/income-tax-employmentsnotional-payments-amendment-regulations-1996",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": null,
  "text": "For regulation 3(2) of the Income Tax (Employments) (Notional Payments) Regulations 1994 there shall be substituted—\n“(2) The property described is—\n(a) any shares acquired by the employee (whether or not as a result of the exercise of a right to acquire shares) under a scheme approved by the Board under Schedule 9 to the Taxes Act (approved share option schemes and profit sharing schemes),\n(b) any right over or interest in shares obtained or acquired by the employee under such a scheme, and\n(c) any shares acquired by the employee as a result of the exercise of a right over shares obtained before 27th November 1996 otherwise than under a scheme approved by the Board under Schedule 9 to the Taxes Act,\nwhere the shares in question form part of the ordinary share capital of—\n(i) an employer which is a company (“the employer company”), or\n(ii) a company which has control of the employer company, or\n(iii) a company which either is, or has control of, a company which is a member of a consortium owning either the employer company or a company having control of the employer company.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 1994/1212."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/2969/regulation/2",
    "retrieved_at": "2026-10-29T12:31:26.949200+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."
}