Section 50 | Employment-related securities: repeal of obsolete provisions

(1)In ICTA, omit sections 138 and 139 (share acquisitions by directors and employees: shares acquired before 26 October 1987).

(2)In ITEPA 2003—

(a)in section 418 (other related provisions), omit subsection (4), and

(b)in Schedule 7 (transitionals and savings), omit paragraph 57.

(3)The amendments made by this section have effect for the tax year 2008-09 and subsequent tax years.