Valid from 06/04/2005
598U.K.In section 476 (charge on occurrence of chargeable event) for subsection (5) substitute—
“(5)If the employee has been divested of the employment-related securities option by operation of law—
(a)income tax is charged on the amount determined under section 478, and
(b)the person liable for any tax so charged is the relevant person in relation to the chargeable event (see section 477(7)).”