(1) Subject to subsection (2B), where the total of the initial market values of all the shares appropriated to an individual in any one year of assessment (whether under a single approved scheme or under 2 or more such schemes) exceeds -
(a) €12,700, or
(b) €38,100 where the conditions in subsection (2A) are satisfied,
subsections (4) to (7) shall apply to any excess shares, that is, any share which caused the applicable limit to be exceeded and any share appropriated after the applicable limit was exceeded.
(2) For the purposes of subsection (1), where a number of shares is appropriated to an individual at the same time under 2 or more approved schemes, the same proportion of the shares appropriated at that time under each scheme shall be regarded as being appropriated before the limit of €12,700 or the limit of €38,100, as the case may be, is exceeded.
(2A) The conditions referred to in paragraph (b) of subsection (1) are -
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