Commentary on Sections Overview Part 6: Partnership shares Paragraph 53: Restriction on number of shares awarded
3114.This paragraph provides that the SIP may authorise the company to specify the maximum number of shares to be included in an award of partnership shares.
3115.This paragraph derives from paragraph 43 of Schedule 8, presenting the material in a somewhat different order.
3116.The wording of sub-paragraph (5) has been modified to deal with the removal of the expression “the individual award” (an expression introduced in paragraph 3 of Schedule 8), which made its one and only appearance at this point. The new wording includes the expression “on behalf of each employee”.