# Finance Act 2000, Paragraph 59

Extent: E+W+S+N.I.

(1) The provisions of this Part of this Schedule apply in relation to company reorganisations.
(2) For the purposes of this Part a “company reorganisation” means where a company (“the acquiring company”)—
(a) obtains control of a company whose shares are subject to a qualifying option which has yet to be exercised—
(i) as a result of making a general offer to acquire the whole of the issued ordinary share capital of that company which is made on a condition such that if it is satisfied the person making the offer will have control of the company, or
(ii) as a result of making a general offer to acquire all the shares in the company which are of the same class as those to which the option relates; or
(b) obtains control of such a company in pursuance of a compromise or arrangement sanctioned by the court under section 425 of the Companies Act 1985 or Article 418 of the Companies (Northern Ireland) Order 1986; or
(c) becomes bound or entitled under sections 428 to 430 of that Act or Articles 421 to 423 of that Order to acquire shares of the same class as shares that are subject to a qualifying option that has yet to be exercised; or
(d) obtains all the shares of a company whose shares are subject to such a qualifying option as a result of a qualifying exchange of shares (see paragraph 60).
(3) In this Part of this Schedule “control” has the meaning given by section 840 of the Taxes Act 1988.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/14/paragraph/59 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-14/paragraph-59
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.