Version Superseded: 11/07/2023
Point in time view as at 22/07/2020.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Requirements relating to shares that may be subject to share options: introduction is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
15(1)A CSOP scheme must meet the requirements of—U.K.
paragraph 16 (shares must be ordinary shares of certain companies),
paragraph 17 (requirements as to listing),
paragraph 18 (shares must be fully paid up and not redeemable), [F1and]
F2...
paragraph 20 (requirements as to other shareholdings).
[F3(1A)Sub-paragraph (1) and the other paragraphs of this Part are subject to paragraph 25A(7B).]
(2)In this Part “” means shares which may be acquired by the exercise of share options under the scheme.
Textual Amendments
F1Word in Sch. 4 para. 15 inserted (with effect in accordance with Sch. 2 para. 77 of the amending Act) by Finance Act 2013 (c. 29), Sch. 2 para. 70(a)
F2Words in Sch. 4 para. 15 omitted (with effect in accordance with Sch. 2 para. 77 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 70(b)
F3Sch. 4 para. 15(1A) inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 171, 204 (with Sch. 8 paras. 205-215)
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