OpenLegislation

Paragraph 37

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

An option is not a qualifying option unless the requirements of this Part of this Schedule are met as to—

(a)

the type of shares that may be acquired (see paragraph 38);

(b)

when the option is capable of being exercised (see paragraph 39);

(c)

the terms being agreed in writing (see paragraph 40); and

(d)

the non-assignability of rights (see paragraph 41).

Notes on Schedule 14

Textual amendments

F1

Sch. 14 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)