Abstract 30, date of award to employees of shares or rights to shares, addresses the interpretation of "date of grant," used to describe the period over which charges should be made to the profit & loss account in UITF Abstract 17 (revised 2000) Employee share schemes and Abstract 25, National Insurance contributions on share option gains.

Abstract 30 states that, where an award of shares or rights to shares to an employee is subject to shareholder approval, the date of the award will not be before the approval is obtained. However, in this instance, the company may need to make a charge to the P&L before the award date if the company incurred an obligation on entering into the arrangement with the employee.

In addition, the Abstract states that where an award of shares or rights to shares is conditional on the company's shares becoming publicly traded on a stock exchange or on a trade sale, that condition is a performance condition of the award.

This will take effect for accounting periods ending on or after June 22, 2001.

To view the Abstract, visit www.asb.org.uk.

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