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Paragraph 34

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A share option is not a qualifying option unless the requirements of this Part of this Schedule as to the following are met at the appropriate time—

  • the type of shares that may be acquired (see paragraph 35),

  • when the option is capable of being exercised (see paragraph 36),

  • the terms being agreed in writing (see paragraph 37), and

  • the non-assignability of rights (see paragraph 38).

Notes on Schedule 5

Modifications

C1

Sch. 5 modified (18.3.2026) by Finance Act 2026 (c. 11), s. 16

C2

Sch. 5 modified (6.4.2026) by Finance Act 2026 (c. 11), s. 13(10)