Related HMRC Manuals

186(1)  The provisions of this section apply where, after 5th April 1979 and before 1st January 2003, the trustees of an approved profit sharing scheme appropriate shares–

(a)which have previously been acquired by the trustees, and

(b)as to which the conditions in Part II of Schedule 9 are fulfilled,

to an individual who participates in the scheme (“the participant” ).

186(2)  Notwithstanding that, by virtue of such an appropriation of shares as is mentioned in subsection (1) above, the beneficial interest in the shares passes to the participant to whom they are appropriated–

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