# Income Tax (Earnings and Pensions) Act 2003, Paragraph 38


The terms on which the option is granted—
(a) must prohibit the person to whom it is granted from transferring any of that person’s rights under it, and
(b) if they permit it to be exercised after that person’s death, must not permit it to be exercised more than one year after the date of the death.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/5/paragraph/38 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-5/paragraph-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.