§ The Financial Secretary to the Treasury (Mr. Nicholas Ridley)I beg to move amendment No. 58, in page 32, line 15, after 'which', insert
', subject to subsection (1A) below,'.
§ Mr. SpeakerWith this we may take Government amendments Nos. 59 to 61.
§ Mr. RidleyIt might be for the convenience of the House if we were to discuss also Government amendment No. 62, and amendment No. 63, in page 32, line 31, leave out 'thirty days' and insert 'one year.'.
§ Mr. SpeakerIf there is no objection to that, so be it.
§ Mr. RidleyThe amendments are four minor relieving provisions to the clause, which deals with the option of spreading the tax on the exercise of a share option over a three-year period. I believe that they raise no issues of substance. I hope that the House will accept them.
§ Amendment agreed to.
§ Amendments made: No. 59, in page 32, line 18, leave out 'obtained' and insert 'granted'.
§ No. 60, in page 32, line 18, leave out 'and' and insert 'or, if the right was granted before 6 April 1982, 90 per cent. of that market value; and'.
§
No. 61, in page 32, line 29, at end insert—
'(1A) Shares which are acquired for a consideration less than that required by paragraph (b) of subsection (1) above by reason only of a diminution in the market value of shares of that class
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(determined as aforesaid) which is attributable solely to the share capital of the company issuing the shares being varied after the right to acquire the shares was granted, shall for the purpose of that paragraph be regarded as having been acquired for a consideration not less than that required by that paragraph.'.
§ No. 62, in page 32, line 31, leave out 'thirty' and insert sixty'.—[Mr. Ridley.]