This section has no associated Explanatory Notes
77(1)This paragraph applies where, immediately before 6th April 2003, a share option was a qualifying option for the purposes of Schedule 14 to FA 2000 (enterprise management incentives).U.K.
(2)On and after that date the share option is to be treated as a qualifying option for the purposes of the EMI code.
(3)Sub-paragraph (2) has effect even if the requirements that had to be met in order for the share option, or any share option replaced by it, to be a qualifying option for the purposes of Schedule 14 to FA 2000 differed to any extent from those set out in Schedule 5.
(4)In this paragraph “” means a right to acquire shares.