§ Mr. Cordle
asked the Chancellor of the Exchequer how many share option and share incentive schemes have received formal or provisional Treasury approval during 1974.
§ Dr. Gilbert
The provisions of the Taxes Acts which granted favourable394W tax treatment to transactions under Inland Revenue approved share option and share incentive schemes were repealed by the Finance Act 1974. Provision no longer exists for schemes to be approved.
The number of schemes approved in 1974, before the Finance Act 1974 became law, was as follows:
Formally approved Provisionally approved Share option schemes 47 57 Share incentive schemes 16 7