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1(1)This Schedule provides for corporation tax relief for a company where a person—
(a)acquires shares by reason of his, or another person's, employment with that company (an “award of shares”: see Part 2 of this Schedule), or
(b)obtains by reason of his, or another person's, employment with that company an option to acquire shares and acquires shares in exercise of that option (the “grant of an option”: see Part 3 of this Schedule).
(2)Part 4 of this Schedule makes further provision for cases where the shares acquired are subject to forfeiture.
(3)In this Schedule—
“the employing company” means the company mentioned in sub-paragraph (1);
“the recipient” means the person acquiring the shares or obtaining the option; and
“the employee” means the person by reason of whose employment the shares are acquired or the option is granted.
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