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SCHEDULES

SCHEDULE 7Transitionals and savings

Part 7Employment income: share-related income

Post-acquisition benefits from shares

55(1)Chapter 4 of Part 7 applies in relation to shares or an interest in shares acquired before 26th October 1987 if the company was not a dependent subsidiary on that date.

(2)But it so applies—

(a)with the omission of sections 453 to 460, and

(b)subject to paragraph 56.