Enterprise scheme answers

Readers may like to note the following exchange of correspondence we have had with the Revenue regarding enterprise management incentive schemes.

Question one: Is it proposed that specimen rules will be produced for the enterprise management incentive scheme?
Answer: We will not be providing specimen rules for this scheme. This is because unlike company share option schemes the terms of an enterprise management incentive option can be different for each key employee. The legislation sets out a number of requirements which must be included in the agreement but any further terms will be for agreement between employer and employee.
Question two: Will it be compulsory for the value of shares in an unquoted company to be agreed with Shares Valuation Division at the time the scheme is established and options granted?
Answer: The value of the shares under option will have to be established at the outset in...