http://www.legislation.gov.uk/id/ukpga/2014/26

SCHEDULES

SCHEDULE 8Employee share schemes

PART 3CSOP schemes

Amendments to Chapter 8 of Part 7 of ITEPA 2003

177 (1)

Paragraph 26 (exchanges of options on company reorganisation) is amended as follows.

(2)

In sub-paragraph (2) after paragraph (b) insert—

“(ba)
obtains control of the scheme company as a result of a non-UK company reorganisation arrangement which has become binding on the shareholders covered by it; or”.

(3)

In sub-paragraph (3) after paragraph (b) omit “and” and insert—

“(ba)
where control is obtained in the way set out in sub-paragraph (2)(ba), within the period of 6 months beginning with the date on which the non-UK company reorganisation arrangement becomes binding on the shareholders covered by it, and”.