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Legislation
Income Tax (Earnings and Pensions) Act 2003

Crossheading Application of Chapters 2 to 4A

  • Section 421B Application of Chapters 2 to 4A
  • Section 421C Associated persons
  • Section 421D Replacement and additional securities and changes in interests
  • Section 421E Exclusions: residence etc
  • Section 421F Exclusions: public offers
  • Section 421G Exclusions: approved plan or scheme securities
  • Section 421H Meaning of “employee-controlled” etc
  • Section 421I Consideration for acquisition of employment-related securities
  1. Application of Chapters 2 to 4A
  2. Associated persons

Section 421C | Associated persons F1

From legislation.gov.uk

(1)For the purposes of this Chapter and Chapters 2 to 4 the following are “associated persons” in relation to employment-related securities—F1

(a)the person who acquired the employment-related securities on the acquisition,F1

(b)(if different) the employee, andF1

(c)any relevant linked person.F1

(2)A person is a relevant linked person if—F1F2

(a)that person (on the one hand), andF1

(b)either the person who acquired the employment-related securities on the acquisition or the employee (on the other),F1

are or have been connected or (without being or having been connected) are or have been members of the same household.

(3)But a company which would otherwise be a relevant linked person is not if it is—F1

(a)the employer,F1

(b)the person from whom the employment-related securities were acquired,F1

(c)the person by whom the right or opportunity to acquire the employment-related securities was made available, orF1

(d)the person by whom the employment-related securities (or the securities in which they are an interest) were issued.F1

Notes

  1. F1

    Pt. 7 Ch. 1 substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)

  2. F2

    Words in s. 421C(2) substituted (18.6.2004 with application in accordance with s. 90(5) of the amending Act) by Finance Act 2004 (c. 12), s. 90(2)

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