5°: Allocation of free shares to company employees

The free allotment by a company to all its employees of shares or corporate units in its capital does not give rise to the levying of any tax. The application of this provision is limited to transactions carried out under conditions laid down by decree in the Conseil d’Etat.

No tax shall be levied on free allocations of shares made pursuant to: 1° (Repealed); 2° (Repealed); 3° Articles L. 322-13 and L. 322-22 of the Insurance Code relating to national insurance companies; 4° Loi n° 73-9 du 4 janvier 1973 relative à la mise en oeuvre de l’actionnariat du personnel à la Société nationale industrielle aérospatiale et à la Société nationale d’étude et de construction de moteurs d’aviation.