# Income Tax (Earnings and Pensions) Act 2003, Paragraph 77


(1) This paragraph applies where, immediately before 6th April 2003, a share option was a qualifying option for the purposes of Schedule 14 to FA 2000 (enterprise management incentives).
(2) On and after that date the share option is to be treated as a qualifying option for the purposes of the EMI code.
(3) Sub-paragraph (2) has effect even if the requirements that had to be met in order for the share option, or any share option replaced by it, to be a qualifying option for the purposes of Schedule 14 to FA 2000 differed to any extent from those set out in Schedule 5.
(4) In this paragraph “share option” means a right to acquire shares.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/7/paragraph/77 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-7/paragraph-77
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.