Income Tax (Earnings and Pensions) Act 2003 Schedule 3 paragraph 14

Meaning of "associate"

Paragraph 14 of Schedule 3 previously defined the term "associate" for the purposes of the SAYE option scheme rules, but has been repealed.

  • Paragraph 14 originally provided a definition of "associate" relevant to SAYE (Save As You Earn) option scheme provisions in Schedule 3.
  • The entire paragraph was repealed by Finance Act 2013, Schedule 2, paragraph 41.
  • The repeal formed part of a wider simplification of the employee share scheme legislation enacted in 2013.
  • Any current references to "associate" in the context of SAYE option schemes should be checked against the revised legislation as it stands following the 2013 amendments.

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