Amendments to Chapter 7 of Part 7 of ITEPA 2003
This section has no associated Explanatory Notes
115(1)Paragraph 38 (exchanges of options on company reorganisation) is amended as follows.
(2)In sub-paragraph (2) after paragraph (b) omit “or” and insert—
“(ba)obtains control of the scheme company as a result of a non-UK company reorganisation arrangement which has become binding on the shareholders covered by it; or”.
(3)In sub-paragraph (3) after paragraph (b) omit “and” and insert—
“(ba)where control is obtained in the way set out in sub-paragraph (2)(ba), within the period of 6 months beginning with the date on which the non-UK company reorganisation arrangement becomes binding on the shareholders covered by it, and”.