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Income Tax (Earnings and Pensions) Act 2003

Paragraph 78: Acquisition by trustees of shares from employee share ownership trust

3178.This paragraph contains provisions that apply where the SIP acquires shares from an employee share ownership trust. The paragraph derives from paragraph 76 of Schedule 8.

3179.Sub-paragraph (2) is now organised slightly differently; and sub-paragraph (2)(a) contains additional words explaining the reference to “relevant shares”, a term left unexplained in the source legislation. See Note 65(C) in Annex 2.

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