Section 539 — Income Tax (Earnings and Pensions) Act 2003: CSOP and other options relevant for purposes of section 536

CSOP and other options relevant for purposes of section 536 539 1 This section has effect for the purposes of section 536(1)(e) (other disqualifying events: grant of CSOP option).

2 A “ relevant CSOP option ” means a CSOP option granted to the employee by reason of the employee’s employment—

a with the employer company, or b if it is a member of a group of companies, with any member of that group.

3 A share option is an “employee option” if it is—

a the qualifying option mentioned in section 536(1), or b another qualifying option granted to the employee by reason of the employee’s employment as mentioned in subsection (2)(a) or (b) above, or c a relevant CSOP option.

4 In this section a “ CSOP option ” means an option to acquire shares under a scheme which is a Schedule 4 CSOP scheme (see Schedule 4) .