Commentary on Sections Overview Part 4: Shares to which schemes can apply Paragraph 17: Requirements as to listing
3412.This follows paragraph 11 of Schedule 9 to ICTA, but the interpretation of paragraph 11(c) is assisted by its division into sub-paragraph (1)(c) and (2) which introduces a new label, “a listed company”.
3413.Eligible shares have to be in a listed company, a company under the control of a listed company or in an independent company.