[F1257FDPut optionsU.K.
(1)This section applies if, at any time in period A, a person grants the investor an option which, if exercised, would bind the grantor to purchase any of the relevant shares.
(2)Any SEIS relief attributable to the shares to which the option relates must be withdrawn.
(3)For the purposes of subsection (2) the shares to which an option relates are those which, if—
(a)the option were exercised immediately after the grant, and
(b)any shares in the issuing company acquired by the investor after the grant were disposed of immediately after being acquired,
would be treated for the purposes of section 257FA as disposed of in pursuance of the option.]
Textual Amendments
F1Pt. 5A inserted (17.7.2012) (with effect in accordance with Sch. 6 para. 24(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 6 para. 1