Clause 1 - Employee share ownership plans
Employee Share Schemes Bill
10:30 am
Mr Mark Lazarowicz (Edinburgh North and Leith, Labour/Co-operative)
I beg to move amendment No. 2, in page 2, leave out lines 26 to 32 and insert—
'112A(1) A deduction is allowed to a company under this paragraph where—
(a) on or after the day on which this paragraph comes into force the company makes a payment to the trustees of an approved employee share ownership plan in order to enable them to acquire shares in the company or a company which controls it,
(b) the payment is applied by the trustees to acquire such shares,
(c) the shares are not acquired from a company, and
(d) the condition in sub-paragraph (3) is met in relation to the company in which the shares are acquired.'.