Section 533 — Income Tax (Earnings and Pensions) Act 2003: Disqualifying events

Disqualifying events 533 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).