Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 8 Employee share schemes

PART 1 Share incentive plans

Other amendments: Individual Savings Account Regulations 1998 (S.I. 1998/1870)

85 In regulation 2 (interpretation) in paragraph (1)(a)—

(a) omit the definition of “approved SIP”,

(b) in the definitions of “ceasing to be subject to the plan”, “participant” and “plan shares” for “an approved” substitute “a Schedule 2”, and

(c) at the appropriate place insert—

• ““Schedule 2 SIP” shall be construed in accordance with the SIP code (see section 488(3) of ITEPA 2003);”.