Section 472 — Finance Act 2003: Associated persons

Associated persons 472 1 For the purposes of this Chapter the following are “ associated persons ” in relation to an employment-related securities option—

a the person who acquired the employment-related securities option on the acquisition, b (if different) the employee, and c any relevant linked person.

2 A person is a relevant linked person if—

a that person (on the one hand),

and b either the person who acquired the employment-related securities option on the acquisition or the employee (on the other), are connected or, although not connected, are members of the same household.

3 But a company which would otherwise be a relevant linked person is not if it is—

a the employer, b the person from whom the employment-related securities option was acquired, or c the person by whom the right or opportunity to acquire the employment-related securities option was made available.