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Paragraph 8

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 purpose for which the option is granted (see paragraph 9),

(b)

the maximum entitlement of an employee (see paragraph 10), and

F1(c)

the maximum value of the relevant company’s shares in respect of which unexercised options can exist (see paragraph 11).

Annotations

Textual amendments

F1

Words in Sch. 14 para. 8(c) substituted (11.5.2001 with effect as mentioned in Sch. 14 para. 13(1) of the amending Act) by 2001 c. 9, s. 62, Sch. 14 paras. 4, 13

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Sch. 14 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)