(2) A share or option is to a person if— granted S. 19(2) substituted by (a) another person transfers the share or option No. 28/2011 s. 35(1). to that person (other than, in the case of a share, by issuing the share to that person); or (b) in the case of a share—another person allots the share to that person; or (c) in the case of an option—another person confers the option on, or otherwise creates the option in, that person; or (d) the person otherwise acquires a legal interest in the share or option from another person; or (e) the person acquires a beneficial interest in the share or option from another person. (2A) To avoid doubt, if an employee acquires a right S. 19(2A) inserted by to be granted a share or an option, or some other No. 28/2011 material benefit, at the election of the employer, s. 35(1). the share or option is not granted until the employer elects to grant the share or option. (3) The in respect of a share is one of the S. 19(3) vesting date substituted by following dates (whichever happens first)— No. 28/2011 s. 35(2). (a) the date on which the share vests in the employee (that is, when any conditions applying to the grant of the share have been met and the employee's legal or beneficial interest in the share cannot be rescinded); (b) the date at the end of the period of 7 years from the date on which the share is granted to the employee. S. 19(4) (4) The in respect of an option is one of vesting date substituted by the following dates (whichever happens first)— No. 28/2011 s. 35(2). (a) the date on which the share to which the option relates is granted to the employee;
S. 19(2) substituted by No. 28/2011 s. 35(1). (2) A share or option is granted to a person if— (a) another person transfers the share or option to that person (other than, in the case of a share, by issuing the share to that person); or (b) in the case of a share—another person allots the share to that person; or (c) in the case of an option—another person confers the option on, or otherwise creates the option in, that person; or (d) the person otherwise acquires a legal interest in the share or option from another person; or (e) the person acquires a beneficial interest in the share or option from another person. S. 19(2A) inserted by No. 28/2011 s. 35(1). (2A) To avoid doubt, if an employee acquires a right to be granted a share or an option, or some other material benefit, at the election of the employer, the share or option is not granted until the employer elects to grant the share or option. S. 19(3) substituted by No. 28/2011 s. 35(2). (3) The vesting date in respect of a share is one of the following dates (whichever happens first)— (a) the date on which the share vests in the employee (that is, when any conditions applying to the grant of the share have been met and the employee's legal or beneficial interest in the share cannot be rescinded); (b) the date at the end of the period of 7 years from the date on which the share is granted to the employee. S. 19(4) substituted by No. 28/2011 s. 35(2). (4) The vesting date in respect of an option is one of the following dates (whichever happens first)— (a) the date on which the share to which the option relates is granted to the employee;
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