Income Tax (Earnings and Pensions) Act 2003

This section has no associated Explanatory Notes

8(1)The scheme must ensure that an individual is not eligible to be granted share options under the scheme at a particular time unless the individual is then a full-time director or a qualifying employee of—U.K.

(a)the scheme organiser, or

(b)in the case of a group scheme, a constituent company.

(2)A “qualifying employee”, in relation to a company, means an employee of the company other than one who is a director of—

(a)the company, or

(b)in the case of a group scheme, a constituent company.