Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 546: Meaning of being entitled “on similar terms”
2204.This section derives from sections 68(3) and (3A) of FA 1988 and explains the condition that entitlement to a priority allocation of shares must be on “similar terms”.
2205.Subsections (3) to (6) only apply where the allocation of shares in a company for directors and employees of the company is different from the allocations for directors and employees of other companies.