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Income Tax (Earnings and Pensions) Act 2003

Paragraph 24: Payment for shares to be linked to approved savings schemes

3308.This paragraph derives from paragraph 16(1) of Schedule 9 to ICTA. It introduces the link with a certified contractual savings scheme, “the CCS scheme”, defined in sub-paragraph (2). The money used to exercise an option cannot exceed the repayments and interest from the CCS scheme.

3309.The contents of sub-paragraphs (2) and (3) of paragraph 16 of Schedule 9 to ICTA are spent.

3310.The words “to them”, which carried no obvious meaning and are therefore redundant, have been deleted.

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