Finance Act 2000 (c. 17)

SCHEDULES

SCHEDULE 14 U.K. Enterprise management incentives

Part V U.K. Requirements as to terms of option etc.

Option to be capable of exercise within 10 years U.K.

39 (1) The option must be capable of being exercised within the period of ten years beginning with the date on which it is granted.

(2) Where the exercise of the option is dependent on the fulfilment of conditions, it is taken to be capable of being exercised within the period mentioned in sub-paragraph (1) if the conditions may be fulfilled within that period.