Paragraph
In those paragraphs—
“the total market value” means the price which the shares which are the subject of the right in question might reasonably be expected to fetch on sale in the open market;
the total market value of the subsequent right is similar to the total market value of the first right if it is not substantially greater than the first right;
“total discount” means the difference between the total value of the exercise price of the shares that are the subject of the right in question and the total market value of that right;
neither the consideration given for the grant of the right nor any entire consideration shall be taken to include the performance of any duties of or in connection with the office or employment by reason of which the right was granted and no part of the amount or value of the consideration given for the grant shall be deducted more than once;
“shares”, so far as the context permits, includes stock; and
“body corporate” includes—
a body corporate constituted under the law of a country or territory outside the United Kingdom; and
an unincorporated association wherever constituted.
Notes on the whole SI
Textual amendments
- F1
See sections 3(2) and (5), 4(5) and (6), 116, 117, 118, 119 and 120 of the Social Security Contributions and Benefits Act 1992 (c. 4) (“the Act”) as amended respectively by paragraphs 3, 4, 22, 23, 24, 25 and 26 of Schedule 3 to the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2) (“the Transfer Act”). The functions of the Department of Health and Social Services for Northern Ireland under the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7) and the Social Security Administration (Northern Ireland) Act 1992 (c. 8) were transferred to the Department for Social Development by Article 8(b) of and Part II of Schedule 6 to the Departments (Transfer and Assignment of Functions) Order (Northern Ireland) 1999 (S.R. 1999 No. 481).
- F2
See section 176(2)(b) of the Act.