Taxes Consolidation Act 1997 Schedule 12A paragraph 12

Conditions for shares to qualify as "scheme shares"

Paragraph 12 of Schedule 12A sets out the requirements that shares must meet in order to qualify as "scheme shares" for the purposes of an approved share option scheme.

• Shares used in an approved share option scheme must satisfy one of three qualifying conditions relating to their stock exchange listing or ownership structure.
• The shares may be of a class quoted on a recognised stock exchange.
• Alternatively, the shares may be in a company that is not under the control of another company.
• The shares may also be in a company controlled by a quoted parent company, provided the parent is not a close company (or would not be one if resident in the State).