Part 7

Employment income: income and exemptions relating to securities
Chapter 9

Enterprise management incentives

Tax advantages where disqualifying events

CSOP and other options relevant for purposes of section 536
539
1
This section has effect for the purposes of section 536(1)(e) (other disqualifying events: grant of CSOP option).
2
A “relevant CSOP option” means a CSOP option granted to the employee by reason of the employee’s employment—
a
with the employer company, or
b
if it is a member of a group of companies, with any member of that group.
3
A share option is an “employee option” if it is—
a
the qualifying option mentioned in section 536(1), or
b
another qualifying option granted to the employee by reason of the employee’s employment as mentioned in subsection (2)(a) or (b) above, or
c
a relevant CSOP option.
4
In this section a “CSOP option” means an option to acquire shares under a scheme which is a Schedule 4 CSOP scheme (see Schedule 4).
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
Words in s. 539(4) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 198, 204 (with Sch. 8 paras. 205-215)
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)