# Income Tax (Earnings and Pensions) Act 2003, Paragraph 23


(1) The scheme must ensure that share options granted to a participant are not capable of being transferred by the participant.
(2) Paragraph 25 provides for the exercise of the options where the participant has died.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/4/paragraph/23 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-4/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.