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26(1)Paragraph 65 (general requirements as to dividend shares) is amended as follows.
(2)Make the existing text sub-paragraph (1).
(3)After the new sub-paragraph (1) insert—
“(2)Dividend shares may (notwithstanding sub-paragraph (1)(b) if relevant) be subject to provision requiring dividend shares acquired on behalf of an employee to be offered for sale but only if the requirement of sub-paragraph (3) is met.
(3)The consideration at which the shares are required to be offered for sale must be at least equal to—
(a)the amount of the cash dividends applied in acquiring the shares on behalf of the employee, or
(b)if lower, the market value of the shares at the time they are offered for sale.”
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