# Finance Act 2013, Paragraph 23


(1) Paragraph 34 (exercise of options: scheme-related employment ends) is amended as follows.
(2) In sub-paragraph (2)—
(a) omit the “or” after paragraph (a), and
(b) after paragraph (b) insert—
“(c) a relevant transfer within the meaning of the Transfer of Undertakings (Protection of Employment) Regulations 2006, or
(d) if P holds office or is employed in a company which is an associated company (as defined in paragraph 35(4)) of the scheme organiser, that company ceasing to be an associated company of the scheme organiser by reason of a change of control (as determined in accordance with sections 450 and 451 of CTA 2010),”.
(3) In sub-paragraphs (4) and (5A)(b) for “or (b)” substitute “ to (d) ”.
(4) A SAYE option scheme approved before the day on which this Act is passed has effect with any modifications needed to reflect the amendments made by this paragraph.

---
Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/2/paragraph/23 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-2/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.