Income Tax (Earnings and Pensions) Act 2003 (c. 1)

SCHEDULES

SCHEDULE 5 U.K. Enterprise management incentives

Part 5 U.K. Requirements relating to options

Non-assignability of rights U.K.

38 U.K. The terms on which the option is granted—

(a) must prohibit the person to whom it is granted from transferring any of that person’s rights under it, and

(b) if they permit it to be exercised after that person’s death, must not permit it to be exercised more than one year after the date of the death.