Income Tax (Earnings and Pensions) Act 2003 section 59

General requirements for matching shares

Section 59 sets out the conditions that a Share Incentive Plan must meet when awarding matching shares alongside partnership shares.

• Matching shares must be of the same class and carry the same rights as the partnership shares to which they relate.
• Matching shares must be awarded on the same day as the corresponding partnership shares.
• All participating employees must receive matching shares on exactly the same basis.
• These requirements ensure fairness and consistency in how matching shares are allocated under a Share Incentive Plan.