Unapproved Option

Example Definitions of "Unapproved Option"
Unapproved Option. Means an option or part of an option which fails to meet the requirements of Schedule 5 of ITEPA.
Unapproved Option. Shall mean an option over shares in the Company that is neither an HM Revenue & Customs approved company share option (under Schedule 4 ITEPA) nor an enterprise management incentive (EMI) option which meets the requirements of Schedule 5 ITEPA.
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