Finance Act 2004

Amendment of Schedule 12 (employee share ownership trusts) to Principal Act.

15.—Schedule 12 to the Principal Act is amended—

(a) in paragraph 11(2C) by inserting “or (3)” after “subparagraph (2B)”, and

(b) in paragraph 11A—

(i) in subparagraph (5)(a) by inserting “or, in the case of a company referred to in clause (d) of the definition of ‘relevant company’ in paragraph 1(1), at some time within 9 months prior to that day,” after “established by that relevant company,”,

(ii) in subparagraph (6)(a) by inserting “or, in the case of a company referred to in clause (d) of the definition of ‘relevant company’ in paragraph 1(1), at some time within 9 months prior to that day,” after “established by that relevant company,”, and

(iii) in subparagraph (7) by inserting “or (6)” after “subparagraph (5)”.