ETASSUM28190 - Schedule 2 share incentive plan (SIP): Supplementary and defined terms: Minor definitions

Paragraph 99 provides the following 바카라 사이트œminor definitions바카라 사이트:

Articles of association 바카라 사이트“ includes any other written agreement between the shareholders of a company;

Company 바카라 사이트“ A body corporate;

Forfeiture, provision for 바카라 사이트“ means a provision (whether of the plan or otherwise) to the effect that a participant ceases to be beneficially entitled to shares on the occurrence of certain events (see ETASSUM23290);

Group of companies 바카라 사이트“ a company and any other companies of which it has control (defined by section 719 ITEPA 2003);

Participant바카라 사이트™s plan shares 바카라 사이트“ plan shares that have been awarded to an individual participant;

PAYE obligations 바카라 사이트“ obligations of any person under Part 11 ITEPA or PAYE regulations (and including obligations under sections 510 to 514 on shares ceasing to be subject to the plan and capital receipts);

Plan shares - free, partnership or matching shares which have been awarded to participants:

  • dividend shares acquired on behalf of participants, and
  • new shares acquired in a company reconstruction (paragraph 87(1)), which in each case remain subject to the plan;

Redundancy 바카라 사이트“ the same meaning as in the Employment Rights Act 1996 or the Employment Rights (Northern Ireland) Order 1996;

Rights arising under a rights issue - see ETASSUM25140.

Paragraph 99 also includes explanations in relation to the following two terms:

Shares 바카라 사이트“ references in the SIP Code to this term include fractions of shares forming part of the share capital of a company registered in a foreign country, the law of which recognises such fractions; and

Member of a consortium owning another company 바카라 사이트“ one of a number of companies which between them own not less than 75% of that other company바카라 사이트™s ordinary share capital and each of which owns not less than 5% of that capital.