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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 12 December 2000 - onwards
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Schedule 11, Part 4 Individuals ineligible to participate (paras. 12-14)

Section 510.

12. An individual shall not be eligible to have shares appropriated to him or her under the scheme at any time unless he or she is at that time or was within the preceding 18 months a director or employee of the company concerned or, if the scheme is a group scheme, of a participating company.

12A. Notwithstanding paragraph 12, an individual shall be eligible to have shares appropriated to him or her under the scheme at any time if -

(a) the shares were transferred to the trustees of the scheme by the trustees of an employee share ownership trust to which section 519 applies, and

(b) the individual is at that time, or was within the preceding 30 days, a beneficiary (within the meaning of paragraph 11 or paragraph 11A, as the case may be, of Schedule 12) of that employee share ownership trust.

13. An individual shall not be eligible to have shares appropriated to him or her under the scheme at any time in a year of assessment if in that year of assessment shares have been a

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