Textual Amendments
F1Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)
60(1)The partnership share agreement must specify—U.K.
(a)the ratio of matching shares to partnership shares for the time being offered by the company, and
(b)the circumstances and manner in which the ratio may be changed by the company.
(2)The ratio must not exceed 2:1 and must be applied by reference to the number of shares.
(3)A partnership share agreement must provide for the employee to be informed by the company if the ratio offered by the company changes before partnership shares are awarded to the employee under the agreement.
[F2(4)The Treasury may by order amend sub-paragraph (2) by substituting for any ratio for the time being specified there a ratio specified in the order.]
Textual Amendments
F2Sch. 2 para. 60(4) inserted (17.7.2014) by Finance Act 2014 (c. 26), s. 50(4)