Paragraph 32
United Kingdom
The scheme must provide that, if a participant dies before exercising the options, they may be exercised F1at any time on or after the date of death but not later than—
(a)
12 months after the date of death, in a case where the participant dies before the bonus date, or
(b)
12 months after the bonus date, in a case where the participant dies on or within 6 months after that date.
Annotations
Textual amendments
- F1
Words in Sch. 3 para. 32 inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 112, 146 (with Sch. 8 paras. 147-157)
Notes on Schedule 3
Textual amendments
- F1
Word in Sch. 3 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 103, 146 (with Sch. 8 paras. 147-157)