460Cases outside charge under section 457
This section has no associated Explanatory Notes
Section 457 (charge on other chargeable benefits) does not apply in relation to shares in a company if the employee has not, at any time in the period of 7 years ending with the date on which the benefit is received, been a director or employee of—
(a)the employer company,
(b)if different, the company whose shares they are, or
(c)an associated company of a company within paragraph (a) or (b).