Commentary on Sections Overview Part 5: Requirements relating to options Paragraph 35: Type of shares that may be acquired
3527.This paragraph sets out the requirement that, to qualify, an option may only be capable of being exercised to acquire shares that are:
	part of the ordinary share capital of the company in question;
	fully paid-up; and
	not redeemable.
3528.This paragraph derives from paragraph 38 of Schedule 14 to FA 2000.