Exercise of options: deathU.K.
25[F1(1)] The scheme may provide that, if a participant dies before exercising the options, they may be exercised on or after the date of death F2.... U.K.
[F3(2)Provision made under sub-paragraph (1) must permit the exercise of the options at any time on or after the date of death but not later than 12 months after that date.]
Textual Amendments
F1Sch. 4 para. 25 renumbered as Sch. 4 para. 25(1) (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 175(2), 204 (with Sch. 8 paras. 205-215)
F2Words in Sch. 4 para. 25(1) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 175(3), 204 (with Sch. 8 paras. 205-215)
F3Sch. 4 para. 25(2) inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 175(4), 204 (with Sch. 8 paras. 205-215)