59U.K.In the EMI code the following expressions are defined or otherwise explained by the provisions indicated below:
| the appropriate time | paragraph 1(4) |
| arrangements | paragraph 58(1) |
| child | section 832(5) of ICTA, (and see section 721(6) of this Act) |
| close company | section 832(1) of ICTA, (and see paragraph 29(4)) |
| closure notice | paragraph 47(4) |
| company | paragraph 58 |
| company reorganisation (in Part 6 of this Schedule) | paragraph 39(2) |
| connected person | section 718 |
| control | section 719 (and see paragraphs 10(2) and 23(6)) |
| disqualifying event | see sections 532 to 539 |
| distribution | section 832(1) of ICTA |
| earnings | section 62 and see section 721(7) |
| the EMI code | section 527(3) |
| employee and employment | section 4 |
| eligible employee | paragraph 24 |
| employer company | paragraph 2 |
| excluded activities | paragraph 16 |
| farming | section 832(1) of ICTA |
| General Commissioners | section 2 of TMA 1970 |
| generally accepted accounting practice | [F1section 50(1) of the Finance Act 2004] |
| group of companies | paragraph 58 |
| the group | paragraph 58 |
| F2. . . | F2... |
| market value | paragraph 55 (and see paragraph 5(7)) |
| met (in Part 7 of this Schedule) | paragraph 44(7) |
| new option | paragraph 41(7) |
| notice | section 832(1) of ICTA |
| [F3offshore installation] | [F3section 837C of ICTA] |
| old option | paragraph 41(7) |
| ordinary share capital | section 832(1) of ICTA |
| original option | section 529(3) |
| parent company | paragraph 58 |
| personal representatives | section 721(1) |
| qualifying company | paragraph 8 |
| qualifying option | section 527(4) (and see paragraph 41(5)) |
| qualifying subsidiary | paragraph 11 |
| qualifying trade | paragraph 15 |
| relevant company | paragraph 2 |
| replacement option | section 527(4) |
| the requirements of this Schedule | section 527(4) |
| research and development | paragraph 58 |
| share option | section 527(4) |
| shares | paragraph 58 (and see paragraph 40(4)(a)) |
| single company | paragraph 58 |
| Special Commissioners | section 4 of TMA 1970 |
| 51% subsidiary | section 838(1) of ICTA |
| tax | section 832(3) of ICTA |
| tax year | section 721(1) |
| trade | section 832(1) of ICTA |
| United Kingdom | section 830 of ICTA |
Textual Amendments
F1Words in Sch. 5 para. 59 substituted (7.4.2005) by Finance Act 2005 (c. 7), Sch. 4 para. 48
F2Words in Sch. 5 para. 59 repealed (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 124(f), Sch. 5; S.I. 2005/1126, art. 2(2)(h)(i)
F3Words in Sch. 5 para. 59 inserted (with effect in accordance with Sch. 27 para. 17(6)(7) of the amending Act) by Finance Act 2004 (c. 12), Sch. 27 para. 17(5)