Part 5 Requirements Relating to Options
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Part 5 Requirements Relating to Options

Requirements relating to options: introduction

34

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).

Type of shares that may be acquired

35

(1)     The option must confer a right to acquire shares that—

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