As of 6 April 1997 this text has repealed
The Finance Act, 1982, is hereby amended -
(a) in section 52, as on and from the passing of this Act, by the substitution of the following for subsections (7) and (8):
"(7) In this Chapter ‘the release date’, in relation to any of a participant’s shares, means the third anniversary of the date on which the shares were appropriated to the participant.
(8) Subject to section 56(4), for the purposes of provisions of this Chapter charging an individual to income tax under Schedule E by reason of the occurrence of an event relating to any of the individual’s shares, any reference to ‘the appropriate percentage’ in relation to those shares shall be determined according to the time of that event, as follows -
(a) if the event occurs before the third anniversary of the date on which the shares were appropriated to the participant and paragraph (b) does not apply, the appropriate percentage is 100 per cent., and
(b) if, in a case where at th
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