{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-257RC",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-257RC.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/257RC",
  "kind": "section",
  "number": "257RC",
  "heading": "Put options",
  "text": "(1) This section applies if, at any time in the longer applicable period, a person grants the investor an option which, if exercised, would bind the grantor to purchase the whole or part of the investment.\n(2) Any SI relief—\n(a) attributable to the investment, or\n(b) (as the case may be) attributable to the part of the investment to which the option relates,\nmust be withdrawn.\n(3) For the purposes of subsection (2)(b), the part of the investment to which an option relates is the part which, if—\n(a) the option were exercised immediately after the grant, and\n(b) any investments made in the social enterprise by the investor after the grant were disposed of immediately after being made,\nwould be treated for the purposes of section 257R as disposed of in pursuance of the option.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/257RC",
    "retrieved_at": "2026-10-29T09:13:03.599581+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."
}