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Withdrawal of clarification notice by DTI on ESOPS and Broad-based schemes

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The DTI released a “Revised Notice of Clarification” in the Government Gazette 38799  Notice 444 of 2015 issued on 15th  May, signed off on the 12th  May 2015. This time by Minister Davies himself signed off the Revised Notice.

The wording the revised notice has been slightly amended. The Notice makes it clear that Notice 396 of 2015 published in Government Gazette 38764 of 5th Mat 2015 (the notice that contained paragraph 1(d) relating to Broad-based Scheme and Employee Share Schemes (“ESOPS”)) is withdrawn.

The revised notice does not in any manner deal with Broad-Based Schemes  of ESOPS. This means the old rules apply once again to Broad Based Schemes including Employee Ownership Schemes.

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