Section 993 — Corporation Tax Act 2009: Plan termination notice

Plan termination notice 993 1 This section applies if—

a a deduction has been made under section 989, b the deduction has not been withdrawn under section 990, c the paying company issues a plan termination notice under paragraph 89 of Schedule 2 to ITEPA 2003 in relation to the plan, and d not all the acquired shares have been awarded under the plan before the issue of that notice.

2 The paying company is treated as receiving an amount equal to the relevant proportion of the deduction.

3 The relevant proportion is the proportion that the number of the acquired shares not awarded bears to the total number of the acquired shares.

4 The amount is treated as received when the paying company issues the plan termination notice.