Section 257FD | Put options ^F1

(1)This section applies if, at any time in period A, a person grants the investor an option which, if exercised, would bind the grantor to purchase any of the relevant shares.^F1

(2)Any SEIS relief attributable to the shares to which the option relates must be withdrawn.^F1

(3)For the purposes of subsection (2) the shares to which an option relates are those which, if—^F1

(a)the option were exercised immediately after the grant, and^F1

(b)any shares in the issuing company acquired by the investor after the grant were disposed of immediately after being acquired,^F1

would be treated for the purposes of section 257FA as disposed of in pursuance of the option.