Section 212 | Prevention of avoidance: subsales etc

(1)In section 45 of FA 2003 (contract and conveyance: effect of transfer of rights), after subsection (1) insert—

(1A)The reference in subsection (1)(b) to an assignment, subsale or other transaction does not include the grant or assignment of an option.

(2)The amendment made by this section has effect in relation to grants or assignments of options on or after 21 March 2012.