17 Enterprise management incentives: restricted shares and declarations
Finance (No 2) Act 2023 (2023 c 30) | Legislation

17  Enterprise management incentives: restricted shares and declarations

(1)     Schedule 5 to ITEPA 2003 (enterprise management incentives) is amended as follows.

(2)     In Part 5 (requirements relating to options), in paragraph 37 (terms of option to be agreed in writing) omit sub-paragraphs (4) and (5).

(3)     In Part 7 (notification of option to HMRC), in paragraph 44 (notice of option to be given to HMRC)—

(a)     in sub-paragraph (5)—

(i)     after paragraph (a) insert “and”;

(ii)     omit paragraph (c) and the “, and” immediately before it;

(b)     omit sub-paragraphs (5A) and (6).

(4)     In Part 8 (supplementary provisions) omit paragraph 57A (penalty for non-compliance with

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