SCHEDULES

SCHEDULE 2Approved share incentive plans

Part 1Introduction

Approval of share incentive plans (SIPs)

1

(1)

This Schedule makes provision for—

(a)

the approval of share incentive plans (“SIPs”) by F1an officer of Revenue and Customs , and

(b)

the administration and operation of such plans.

(2)

Parts 2 to 9 of this Schedule contain requirements that have to be met in order for plans to be approved under this Schedule.

(3)

The requirements consist of general requirements (see Part 2) and requirements as to—

  • the eligibility of individuals (see Part 3),

  • the types of shares that may be awarded (see Part 4),

  • free shares (see Part 5),

  • partnership shares (see Part 6),

  • matching shares (see Part 7),

  • cash dividends and dividend shares (see Part 8), and

  • the trustees (see Part 9).

(4)

Part 10 of this Schedule deals with the approval of plans and the withdrawal of approval.