14.2.1 Scheme requirements

Qualifying CSOPs differ from EMIs in one fundamental respect: essentially EMI is a framework within which option grants can qualify for relief if they individually meet the requirements of the EMI Code; CSOP, on the other hand, is a regime under which an over-arching scheme must meet the legislative requirements of the CSOP Code – if the scheme as a whole qualifies, the options granted under the scheme will also qualify.

A CSOP scheme must meet two criteria:

the schemeʼs purpose must be to provide benefits in the form of share options and must not provide other forms of benefit; and

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