49 Employee share options.U.K.
(1)In section 135 of the Taxes Act 1988, in each of subsections (2) and (5) (in accordance with which there is a charge to tax when an employee obtains a share option that is exercisable more than seven years after being obtained), for “seven" there shall be substituted “ ten ”.
(2)Subsection (1) above has effect in relation to rights obtained on or after 6th April 1998.