61 Enterprise management incentives: excluded activities
Finance Act 2007 (2007 c 11) | Legislation

61  Enterprise management incentives: excluded activities

(1)     In Part 3 of Schedule 5 to ITEPA 2003 (enterprise management incentives: qualifying companies), in paragraph 19 (excluded activities: receipt of royalties or licence fees)—

(a)     in sub-paragraph (4), for paragraphs (a) and (b) substitute—

“(a)     by the relevant company, or

(b)     by a company which was a qualifying subsidiary of the relevant company throughout a period during which it created the whole or greater part (in terms of value) of the intangible asset.”, and

(b)     after sub-paragraph (7) insert—

“(8)     If—

(a)

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