# Income Tax (Earnings and Pensions) Act 2003, Paragraph 25

Extent: E+W+S+N.I.

(1) The scheme may provide that, if a participant dies before exercising the options, they may be exercised on or after the date of death ....
(2) Provision made under sub-paragraph (1) must permit the exercise of the options at any time on or after the date of death but not later than 12 months after that date.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/4/paragraph/25 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-4/paragraph-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.