Paragraph 11 F1

(1)

This Part of this Schedule forms part of the CSOP code (see section 521 of ITEPA 2003 ( F2... CSOP schemes)).

(2)

Accordingly, expressions used in this Part of this Schedule and contained in the index at the end of Schedule 4 to that Act ( F3... CSOP schemes) have the meaning indicated by the index.

(3)

This Part of this Schedule applies where—

(a)

a share option (“the option”) has been granted to an individual—

(i)

in accordance with the provisions of F4a Schedule 4 CSOP scheme, and

(ii)

by reason of the individual’s office or employment as a director or employee of a company, and

(b)

shares (“the relevant shares”) are acquired by the exercise of the option.

(4)

The company mentioned in sub-paragraph (3)(a)(ii) may be—

(a)

the company whose shares are the subject of the option, or

(b)

some other company.

Annotations

Textual amendments

F1: Sch. 7D inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 221 (with Sch. 7)
F2: Word in Sch. 7D para. 11(1) omitted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 187(2), 204 (with Sch. 8 paras. 205-215)
F3: Word in Sch. 7D para. 11(2) omitted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 187(2), 204 (with Sch. 8 paras. 205-215)
F4: Words in Sch. 7D para. 11(3)(a)(i) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 187(3), 204 (with Sch. 8 paras. 205-215)

Notes on Schedule 7D

Textual amendments

F2: Word in Sch. 7D heading omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 40, 89 (with Sch. 8 paras. 90-96)

Notes on Part 3

Textual amendments

F2: Words in Sch. 7D Pt. 3 heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 186, 204 (with Sch. 8 paras. 205-215)