{
  "url": "https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-59",
  "json_url": "https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-59.json",
  "legislation": "ukpga/2000/17",
  "legislation_title": "Finance Act 2000",
  "legislation_url": "https://openlegislation.uk/finance-act-2000",
  "path": "schedule/15/paragraph/59",
  "kind": "paragraph",
  "number": "59",
  "heading": null,
  "text": "(1) Sub-paragraph (2) applies where—\n(a) an option, the exercise of which would bind the grantor to purchase any of the relevant shares, is granted to the investing company during the qualification period relating to those shares; or\n(b) an option, the exercise of which would bind the investing company to sell such shares, is granted by the investing company during that period.\n(2) Any investment relief attributable to the shares to which the option relates must be withdrawn.\n(3) The shares to which the option relates are those which, if—\n(a) the option were exercised immediately after the grant, and\n(b) any shares in the issuing company acquired by the investing company after the grant were disposed of immediately after being acquired,\nwould be treated for the purposes of this Schedule as disposed of in pursuance of the option.\n(4) Nothing in this paragraph prejudices the operation of paragraph 37 (pre-arranged exits).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "inserted",
      "affecting": "asp/2001/8",
      "affecting_title": "Regulation of Care (Scotland) Act 2001"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/17/schedule/15/paragraph/59",
    "retrieved_at": "2026-10-29T09:21:00.128981+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}