[F111(1)This Part of this Schedule forms part of the CSOP code (see section 521 of ITEPA 2003 (approved CSOP schemes)).U.K.
(2)Accordingly, expressions used in this Part of this Schedule and contained in the index at the end of Schedule 4 to that Act (approved CSOP schemes) have the meaning indicated by the index.
(3)This Part of this Schedule applies where—
(a)a share option (“the option”) has been granted to an individual—
(i)in accordance with the provisions of an approved CSOP scheme, and
(ii)by reason of the individual’s office or employment as a director or employee of a company, and
(b)shares (“the relevant shares”) are acquired by the exercise of the option.
(4)The company mentioned in sub-paragraph (3)(a)(ii) may be—
(a)the company whose shares are the subject of the option, or
(b)some other company.]
Textual Amendments
F1Sch. 7D inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 221 (with Sch. 7)