# The Social Security (Contributions) Regulations 2001, Paragraph 4: Conferment of a beneficial interest in an option to acquire asset falling within Part IV of Schedule 3


The amount of earnings which is comprised in a payment by way of the conferment of a beneficial interest in an option to acquire any asset falling within Part IV of Schedule 3 shall be calculated or estimated by reference to the amount which would be comprised in accordance with paragraph 2, or, if paragraph 3, 5 or 6 would apply in accordance with that paragraph, in a payment by way of the conferment of a beneficial interest—
(a) in the asset which may be acquired by the exercise of the option; or
(b) where that asset (the first asset) may be exchanged for another asset (the second asset) and the value of the beneficial interest in the second asset is greater than that in the first, in that second asset,
on the day on which the beneficial interest in the option is conferred.

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Source: https://www.legislation.gov.uk/uksi/2001/1004/schedule/2/paragraph/4 (the official version)
Page: https://openlegislation.uk/social-security-contributions-regulations-2001/schedule-2/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.