HC Deb 07 February 1974 vol 868 cc381-2W
Mr. Meacher

asked the Chancellor of the Exchequer how many stock option or share incentive schemes in accordance with criteria laid down in the Finance Act 1972 have been approved, even if not yet implemented under the stages 1–3 regulations; how many persons are involved; what are the main types of schemes; and what is estimated to be the likely average gain under each of these main schemes to executives at different income levels.

Mr. Nott,

pursuant to his reply [OFFICIAL REPORT, 6th February 1974; Vol. 868, c. 350], gave the following information:

Formal approval under the 1972 legislation has been given to 315 share option schemes and 41 share incentive schemes. In addition, 271 share option schemes and 46 share incentive schemes have been accepted as approvable if adopted by shareholders: of these, five option schemes and two incentive schemes are savings—related schemes introduced under the terms of the 1973 legislation. Of the 87 incentive schemes to which approval, formal or conditional, has been given, 74 involve loans by the company for the purchase of the shares, and 13 were of the deferred payment type. Information about the number of participants in approved schemes will be available after the annual returns from the companies whose shares have been used in the schemes have been received. Estimates of the likely average gain to participants are not available.