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Income Tax (Earnings and Pensions) Act 2003

Paragraph 35: Type of shares that may be acquired

3527.This paragraph sets out the requirement that, to qualify, an option may only be capable of being exercised to acquire shares that are:

  • part of the ordinary share capital of the company in question;

  • fully paid-up; and

  • not redeemable.

3528.This paragraph derives from paragraph 38 of Schedule 14 to FA 2000.

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