ERSM20360 - Employment-related securities and options: exclusions: former and prospective employments
Former employments
Acquisitions of securities or options after the employment has ceased are only excluded from the rules of Chapters 2 to 4 and Chapter 5 if they would also have been excluded if the acquisition had occurred in the last year of that employment.
The legislation is at ITEPA03/S421E (3) for securities and ITEPA03/S474 (2) for options.
Prospective employments
Similarly, acquisitions of securities or options before the employment has started are only excluded from the rules of Chapters 2 to 4 and Chapter 5 if they would also have been excluded if the acquisition had occurred in the first year of that employment.
The legislation is at ITEPA03/S421E (4) for securities and ITEPA03/S474 (3) for options.
