SCHEDULES
F1SCHEDULE 7DApproved share schemes and share incentives
Part 3Approved CSOP schemes
Introductory
11
1
This Part of this Schedule forms part of the CSOP code (see section 521 of ITEPA 2003 (approved CSOP schemes)).
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.
Sch. 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)