7(1)In Schedule 4 to ITEPA 2003 (CSOP schemes), paragraph 22 (requirements as to price for acquisition of shares) is amended as follows.
(2)In sub-paragraph (1)—
(a)in paragraph (b), for “at the time when the option is granted” substitute “—
(i)at the time when the option is granted, or
(ii)at such earlier time as may be determined in accordance with guidance issued by the Commissioners for Her Majesty’s Revenue and Customs.”;
(b)for “sub-paragraphs (2) and (3)” substitute “sub-paragraph (3)”.
(3)Omit sub-paragraph (2).