ETASSUM24350 - Schedule 2 share incentive plan (SIP): Types of award: Partnership shares: Minimum deduction of partnership share money

A Schedule 2 SIP may (but need not) provide that no less than a specified minimum amount of partnership share money will be deducted on any occasion. If there is a minimum deduction it must be:

  • no more than £10,
  • the same for all participants irrespective of their pay interval, and
  • specified in the Schedule 2 SIP (paragraph 47).

»Ê¹ÚÌåÓýapp last requirement should normally be met by specifying the amount in the partnership shares agreement. »Ê¹ÚÌåÓýapp plan rules may then be flexible and permit the company to set any minimum deduction not exceeding £10.