Finance Act 2000

37An option is not a qualifying option unless the requirements of this Part of this Schedule are met as to—

(a)the type of shares that may be acquired (see paragraph 38);

(b)when the option is capable of being exercised (see paragraph 39);

(c)the terms being agreed in writing (see paragraph 40); and

(d)the non-assignability of rights (see paragraph 41).