Explanatory Notes

Income Tax (Earnings and Pensions) Act 2003

2003 CHAPTER 1

6th March 2003

Commentary on Sections

Omitted material

Schedule 2: Approved Share Incentive Plans

Overview

Part 11: Supplementary provisions
Paragraph 96: Meaning of shares being withdrawn from plan

3230.This paragraph explains when shares are withdrawn from a plan for the purposes of the SIP code.

3231.This paragraph is the first of two that derive from paragraph 122 of Schedule 8. That paragraph is lengthy, and with a view to making its provisions more accessible, it has been divided for the purposes of this Act. This paragraph derives from sub-paragraphs (1) and (2) of paragraph 122.