SCHEDULES
SCHEDULE 2F1... share incentive plans
Part 3Eligibility of individuals
Requirement not to participate in other SIPs
18
1
The plan must provide that an individual is not eligible to participate in an award of free, matching or partnership shares under the plan in a tax year if the individual—
F3a
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
is at the same time to participate, in an award of shares under another F2Schedule 2 SIP established by the company or a connected company.
2
For the purposes of this paragraph an individual is to be treated as having participated in an award of free shares under a SIP if the individual would have participated in that award but for the individual’s failure to obtain a performance allowance (see paragraph 34).
3
In this paragraph “connected company” means— (a)a company which controls or is controlled by the company or which is controlled by a company which also controls the company, or (b)a company which is a member of a consortium owning the company or which is owned in part by the company as a member of a consortium.
Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)