Income Tax (Earnings and Pensions) Act 2003 section Sch 5 para 54

Power to amend by Treasury order

Section Sch 5 para 54 grants the Treasury the power to amend certain provisions of the Enterprise Management Incentives (EMI) code by order, covering both the trading activities requirements and specified monetary limits.

• The Treasury may amend the rules on trading activities (paragraphs 13 to 23 of the EMI code) as it considers appropriate.
• The Treasury may change the monetary limits on the maximum entitlement of an employee, currently set out in paragraphs 5(1) and 6(1) and (3).
• The Treasury may also change the monetary limits for the gross assets requirement in paragraph 12(1) and (2).
• Where the employee entitlement limits are changed, the Treasury may also update the corresponding figure in section 536(1)(e) dealing with other disqualifying events, to keep the amounts consistent.