# The Social Security (Contributions) Regulations 2001, Paragraph 9: Restricted securities and restricted interests in securities


(1) A payment by way of the acquisition of restricted securities, or a restricted interest in securities, where those securities are, or that interest is, employment-related, if no charge to income tax arises under section 425 of ITEPA 2003 other than by virtue of subsection (2) of that section.
This is subject to the following qualification.
(2) This paragraph does not apply if an election has been made as mentioned in subsection (3) of section 425 of ITEPA 2003.
(3) References in this paragraph to section 425 of ITEPA 2003 are to that section as substituted by paragraph 3(1) of Schedule 22 to the Finance Act 2003.

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Source: https://www.legislation.gov.uk/uksi/2001/1004/schedule/3/part/IX/paragraph/9 (the official version)
Page: https://openlegislation.uk/social-security-contributions-regulations-2001/schedule-3/part-IX/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.