SCHEDULES

SCHEDULE 4F1... CSOP schemes

Annotations:
Amendments (Textual)
F1

Word in Sch. 4 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 164, 204 (with Sch. 8 paras. 205-215)

Part 1Introduction

CSOP schemes

2

1

In the CSOP code a “CSOP scheme” means (in accordance with section 521(4)) a scheme which—

a

is established by a company,

b

provides for share options to be granted to employees and directors, and

c

is not an SAYE option scheme (within the meaning of the SAYE code: see section 516(4)).

2

In the CSOP code, in relation to a CSOP scheme—

  • “participant” means an individual who has been granted (but has not yet exercised) share options under the scheme (“the options”);

  • “participate” means obtain and exercise share options under the scheme;

  • “the scheme organiser” means the company which has established the scheme.