Income Tax (Earnings and Pensions) Act 2003

533Disqualifying eventsU.K.
This section has no associated Explanatory Notes

(1)The following provisions deal with the events that are (or are to be treated as) disqualifying events in relation to a qualifying option—

(a)section 534 (events relating to the relevant company),

(b)section 535 (events relating to the employee), and

(c)section 536 (other disqualifying events), read with sections 537 to 539 (which contain supplementary provisions).

(2)In the provisions mentioned in subsection (1) “the employee” means the person holding the qualifying option and “the relevant company” means the company whose shares are the subject of the option (see paragraph 1(3) of Schedule 5).