http://www.legislation.gov.uk/ukpga/2005/22/schedule/5/paragraph/3
Finance (No. 2) Act 2005
An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.
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Statute Law Database
2021-06-01
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2021-02-25
SCHEDULES
SCHEDULE 5Chargeable gains: options
Part 2Miscellaneous amendments relating to share options etc
Shares acquired on same day: election for alternative treatment
3
1
Section 105A of TCGA 1992 is amended as follows.
2
In subsection (1) (cases in which subsection (2) applies) in paragraph (b) (some of the acquired shares to be approved-scheme shares) for sub-paragraphs (i) and (ii) substitute—
i
the exercise of a qualifying option within the meaning given by section 527(4) of ITEPA 2003 (enterprise management incentives) in circumstances where section 530 or 531 of that Act (exercise of option to acquire shares) applies, or
ii
the exercise of an option to which Chapter 7 or 8 of Part 7 of that Act (approved share option schemes) applies in circumstances where section 519(1) or 524(1) of that Act applies.