Amendments to Chapter 8 of Part 7 of ITEPA 2003
This section has no associated Explanatory Notes
178(1)Paragraph 27 (requirements about share options granted in exchange) is amended as follows.
(2)In sub-paragraph (4)—
(a)in paragraph (c) for “equal” substitute “be substantially the same as”, and
(b)in paragraph (d) for “equal to” substitute “substantially the same as”.
(3)After sub-paragraph (7) insert—
“(8)For the purposes of this paragraph the market value of any shares is to be determined using a methodology agreed by Her Majesty’s Revenue and Customs.”