§ Mr. MacGregor(1)asked the Chancellor of the Exchequer how many share option and share incentive schemes have received either formal or provisional approval by the Treasury in the last three years;
(2) how many companies have adopted own-as-you-earn schemes; and how many had announced their intention to propose such schemes to shareholders prior to the Budget Statement of 26th March 1974.
§ Dr. GilbertFormal approval under the 1972 legislation has been given to 341 share option schemes, including four of the savings-related type (Own-as-youearn) introduced under the 1973 legislation and 46 share incentive schemes, none70W of which is of the savings-related type. In addition 275 share option schemes and 45 share incentive schemes have been accepted as approvable if adopted by the shareholders: of these seven option schemes and two incentive schemes are of the savings-related type. Since 6th November 1972 the implementation of approved schemes, other than savings-related schemes, has not been permitted.
I regret that no information is available as to the number of companies which had announced their intention of adopting savings-related share option and share incentive schemes but had not submitted their proposals to the Inland Revenue.