Finance Act 1996

2 (1) A scheme to which this Schedule applies shall have effect, notwithstanding anything included in it to the contrary, as if it provided that no person shall, on or after the day on which this Act is passed, obtain rights under it which would, at the time they are obtained, cause the aggregate market value of the shares which that person may acquire in pursuance of rights obtained under the scheme or under any other share option scheme, not being a savings-related share option scheme, approved under Schedule 9 to the Taxes Act 1988 and established by the grantor or an associated company of the grantor (and not exercised) to exceed or further exceed £30,000.

(2) Sub-paragraph (3) of paragraph 28 of Schedule 9 to the Taxes Act 1988 (market value of shares to be calculated as at time when rights obtained etc) shall have effect for the purposes of sub-paragraph (1) above as it has effect for the purposes of sub-paragraph (1) of that paragraph.