Finance Act 2022
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Share based remuneration | ||
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16. (1) Section 128F of the Principal Act is amended— | ||
(a) in subsection (1)— | ||
(i) in paragraph (d)(ii) of the definition of “qualifying company”, by the substitution of “€6,000,000” for “€3,000,000”, and | ||
(ii) in paragraph (a) of the definition of “qualifying share option”, by the substitution of “ordinary fully paid up shares” for “new ordinary fully paid up shares”, | ||
(b) in paragraph (b)(ii) of subsection (2A) (inserted by section 15 of the Finance Act 2022), by the substitution of “€6,000,000” for “€3,000,000”, | ||
(c) in subsection (3), by the substitution of “1 January 2026” for “1 January 2024”, and | ||
(d) by the insertion of the following subsection after subsection (6): | ||
“(6A) Where— | ||
(a) shares in a company are acquired on foot of a qualifying share option granted on or after 1 January 2018 and before 1 January 2026, | ||
(b) those shares are subsequently redeemed, repaid or purchased by the company, and | ||
(c) subsection (1) of section 176 would apply in respect of the payment made by the company on the redemption, repayment or purchase of those shares, but for paragraph (a)(i)(I) of that subsection not being satisfied, | ||
subsection (1) of section 176 shall be deemed to apply in respect of the payment, notwithstanding that paragraph (a)(i)(I) of that subsection is not satisfied.”. | ||
(2) Section 128B of the Principal Act is amended, in paragraph (b) of subsection (9), by the substitution of “0.0219” for “0.0322”. | ||
(3) Schedule 29 of the Principal Act is amended, in Column 3, by the insertion of “section 128B(4)” before “section 128C(15) ”. | ||
(4) Subsection (1) shall come into operation on such day or days as the Minister for Finance shall appoint either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions. |