Income Tax (Earnings and Pensions) Act 2003 section Schedule 4 paragraph 15

Requirements relating to shares that may be subject to share options: introduction

Section Schedule 4 paragraph 15 introduces the share requirements that a Company Share Option Plan (CSOP) scheme must satisfy in relation to the types of shares that may be placed under option.

• Shares under a CSOP must be ordinary shares in certain qualifying companies
• The shares must meet specific listing requirements
• The shares must be fully paid up and not redeemable
• These requirements are subject to an override provision that may modify their application in certain circumstances