- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)Part 3 of Schedule 5 to ITEPA 2003 (enterprise management incentives: qualifying companies) is amended as follows.
(2)In paragraph 8 (qualifying companies: introduction), omit the “and” at the end of the entry relating to paragraph 12, and after that entry insert—
“number of employees (see paragraph 12A), and”.
(3)After paragraph 12 insert—
12A(1)The number of employees requirement in the case of a single company is that the full-time equivalent employee number for it is less than 250.
(2)The number of employees requirement in the case of a parent company is that the sum of—
(a)the full-time equivalent employee number for it, and
(b)the full-time equivalent employee numbers for each of its qualifying subsidiaries,
is less than 250.
(3)The full-time equivalent employee number for a company is calculated as follows—
Step 1
Find the number of full-time employees of the company.
Step 2
Add, for each employee of the company who is not a full-time employee, such fraction as is just and reasonable.
The result is the full-time equivalent employee number.
(4)In this paragraph references to an employee—
(a)include a director, but
(b)do not include—
(i)an employee on maternity or paternity leave, or
(ii)a student on vocational training.”
(4)In paragraph 16 (excluded activities), after paragraph (i) insert—
“(ia)shipbuilding (see also paragraph 20A);
(ib)producing coal (see also paragraph 20B);
(ic)producing steel (see also paragraph 20C);”.
(5)After paragraph 20 insert—
20AIn paragraph 16(ia) “shipbuilding” has the same meaning as in the Framework on state aid to shipbuilding (2003/C 317/06), published in the Official Journal on 30 December 2003.
20B(1)This paragraph supplements paragraph 16(ib).
(2)“Coal” has the meaning given by Article 2 of Council Regulation (EC) No. 1407/2002 (state aid to coal industry).
(3)The production of coal includes the extraction of it.
20CIn paragraph 16(ic) “steel” means any of the steel products listed in Annex 1 to the Guidelines on national regional aid (2006/C 54/08), published in the Official Journal on 4 March 2006.”
(6)The amendments made by this section have effect in relation to options granted on or after the day on which this Act is passed.
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