SCHEDULES
C2 SCHEDULE 5 Employee Share Ownership Trusts
Annotations:
Modifications etc. (not altering text)
General
C12
1
The trust must be established under a deed (the trust deed).
2
The trust must be established by a company (the founding company) which,at the time the trust is established, is resident in the United Kingdom andnot controlled by another company.
Sch. 5 applied (6.3.1992 with effect as mentioned in s. 289(1)(2) of the applying Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 228(7), 235(8), 289 (with ss. 60, 101(1), 171, 201(3))