Commentary on Sections Overview Chapter 1: Share incentive plans Section 992: Award of shares to excluded employee
2549.This section withdraws a proportion of the relief given under sections 989 and 991 if shares are awarded to an excluded employee. It is based on paragraph 10 of Schedule 4AA to ICTA.
2550.The definition of excluded employee in subsection (2) is the same as that in paragraph 4(2) of Schedule 4AA to ICTA which is rewritten as Exclusion 1 in section 996.
2551.This section contains a change to clarify and make more consistent the way in which withdrawn relief is treated. See Change 76 in Annex 1 and the commentary on section 986.