SCHEDULES
SCHEDULE 5Enterprise management incentives
Part 5Requirements relating to options
Option to be capable of exercise within 10 years
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(1)
The option must be capable of being exercised within the period of 10 years beginning with the date on which it is granted.
(2)
Where the exercise of the option is dependent on the fulfilment of conditions, the option is to be taken to be capable of being exercised within the period mentioned in sub-paragraph (1) if the conditions may be fulfilled within that period.