{
  "url": "https://openlegislation.uk/social-security-contributions-amendment-no-6-regulations-northern-ireland-1996/regulation-4",
  "json_url": "https://openlegislation.uk/social-security-contributions-amendment-no-6-regulations-northern-ireland-1996/regulation-4.json",
  "legislation": "nisr/1996/566",
  "legislation_title": "The Social Security (Contributions) (Amendment No. 6) Regulations (Northern Ireland) 1996",
  "legislation_url": "https://openlegislation.uk/social-security-contributions-amendment-no-6-regulations-northern-ireland-1996",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Amendment of regulation 19 of the principal Regulations",
  "text": "In regulation 19 of the principal Regulations (payments to be disregarded)—\n(a) for sub-paragraphs (k) and (l) of paragraph (1) there shall be substituted the following sub-paragraphs—\n“(k) a payment by way of shares where such shares—\n(i) form part of the ordinary share capital of—\n(aa) a company (aa) the secondary contributor, or\n(bb) company which has control of that secondary contributor, or\n(cc) a company which either is, or has control of, a body corporate which is a member of a consortium owning either that secondary contributor or a body corporate having control of that secondary contributor, and\n(ii) are either—\n(aa) appropriated under a profit sharing scheme to which the provisions of section 186 of the Income and Corporation Taxes Act 1988 (approved profit sharing schemes) apply, or\n(bb) non-tradeable shares;\n(l) a payment by way of an option to acquire shares where such option is—\n(i) a right obtained in accordance with the provisions of a scheme approved under Schedule 9 to the Income and Corporation Taxes Act 1988 (approved share option schemes and profit sharing schemes) for the purposes of section 185 of that Act (approved share option schemes), or\n(ii) a right to acquire shares which are non-tradeable shares and is a non-tradeable option;”;\n(b) sub-paragraph (f) of paragraph (7) shall be omitted;\n(c) at the end of paragraph (7) there shall be added the following sub-paragraph—\n“(g) a payment by way of shares appropriated under a profit sharing scheme to which the provisions of section 186 of the Income and Corporation Taxes Act 1988 (approved profit sharing schemes) apply includes a payment derived from such shares.”;\n(d) after paragraph (7) there shall be added the following paragraph—\n“(8) For the purposes of paragraph (1)(k) and (l) of this regulation—\n(a) a share or option is non-tradeable if at the time when the payment is made that share or option is incapable of being sold or otherwise realised on a recognised investment exchange within the meaning of section 207(1) of the Financial Services Act 1986 (interpretation) and no trading arrangements exist in respect of it;\n(b) “shares” include stock.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Sub-paragraphs (k) and (l) were added by S.R. 1991 No. 490"
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Schedule 9 was amended by sections 137 and 162 of, and Schedule 29 to, the Finance Act 1995 (c. 4) and paragraph 35(4)(a) of Schedule 1 to the Employment Rights Act 1996 (c. 18)"
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Paragraph (7) was added by S.R. 1991 No. 490"
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "1986 c. 60"
    }
  ],
  "outstanding_effects": [
    {
      "type": "revoked",
      "affecting": "nisr/1998/317",
      "affecting_title": "The Social Security (Contributions) (Amendment No. 3) Regulations (Northern Ireland) 1998"
    },
    {
      "type": "revoked",
      "affecting": "nisr/1998/317",
      "affecting_title": "The Social Security (Contributions) (Amendment No. 3) Regulations (Northern Ireland) 1998"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/1996/566/regulation/4",
    "retrieved_at": "2026-10-29T02:32:03.445492+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."
}