The following Corporate practice note Produced in partnership with Dilpa Raval of CMS and Graham Muir of CMS provides comprehensive and up to date legal information covering:
This Practice Note focuses on the conditions that have to be satisfied in order for Enterprise Management Incentive (EMI) options to be granted and summarises the tax benefits of EMI options.
EMI options were introduced in the Finance Act 2000 and are intended to assist smaller high-risk companies to recruit and retain employees of high calibre. In broad terms, EMI options aim to do this by providing a number of significant tax reliefs for employees in companies which satisfy the qualifying conditions set out in Schedule 5 to the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003).
With effect from 6 April 2014, companies are required to register their EMI plans online and self-certify that the statutory conditions are satisfied (see Self-certification of EMI options below).
This Practice Note is intended to be a summary of the issues relevant to corporate lawyers. If further details are required, the advice of a share incentives specialist should be sought.
EMI options are a form of share option over a company's shares (the EMI Company). This means that they give the holder of the option the right to call for the shares subject to the option at a future date but at a price (the option price) determined at the date of grant. To acquire the shares, the holder of the EMI option must exercise
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Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
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