{
  "url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-4/paragraph-8",
  "json_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-4/paragraph-8.json",
  "legislation": "ukpga/2003/1",
  "legislation_title": "Income Tax (Earnings and Pensions) Act 2003",
  "legislation_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003",
  "path": "schedule/4/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": null,
  "text": "(1) The scheme must ensure that an individual is not eligible to be granted share options under the scheme at a particular time unless the individual is then a full-time director or a qualifying employee of—\n(a) the scheme organiser, or\n(b) in the case of a group scheme, a constituent company.\n(2) A “qualifying employee”, in relation to a company, means an employee of the company other than one who is a director of—\n(a) the company, or\n(b) in the case of a group scheme, a constituent company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/1/schedule/4/paragraph/8",
    "retrieved_at": "2026-10-29T09:18:42.395488+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."
}