(1) The Principal Act is amended -

(a) in section 128A(4A)(d)(i)(II) by substituting "half of the aggregate" for "the aggregate",

(b) in section 128E(6)(a) by substituting "for the purposes of income tax, income levy and universal social charge" for "income tax purposes", and

(c) in section 985A by inserting the following after subsection (4A):

"(4B) Where -

(a) an employer pays emoluments to an employee in the form of shares (including stock),

(b) subsection (4) applies, and

(c) the employee has not made good to the employer the amount of the income tax required to be deducted under this Part and regulations made under this Part in respect of those shares,

then -

(i) the employer shall be entitled to withhold and to realise sufficient shares to meet that income tax liability,

(ii) the employee shall allow such withholding as is referred to in paragraph (i), and

(iii) the employer shall be acquitted and discharged of such withholding as if the amount of income tax required to be deducted had been paid to the employee.".