Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Requirements definition

What does Requirements mean? In Development Consent Order (DCO) practice, Requirements are the binding conditions that regulate how, when and on what detailed terms the authorised development may proceed. They typically oblige the undertaker to submit and secure approval of detailed design, construction, and environmental management documents (for example, CEMP, traffic, landscape, contamination and archaeology plans) before commencement, phased works or operation. The term is used in legislation: section 120 of the Planning Act 2008 permits a DCO to impose “requirements”. In most DCOs they are set out in a schedule (often Schedule 2) and function similarly to planning conditions under the Town and Country...

Enterprise Management Incentives (EMI): company eligibility tests, HMRC advance assurance and practical pitfalls (UK)

Published by a LexisNexis Share Incentives expert

Practice notes

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This Practice Note focuses on the conditions that must be met in relation to companies granting the EMI Options.

The EMI regime is tightly defined and prescribes multiple criteria that must be satisfied at the point options are granted. These relate to:

the Company issuing the options
the employees to whom the options are granted
the shares placed under Option
the options themselves

Company-specific conditions are set in the context of the income tax relief available under sections 527–541 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003).

For a visual guide to assess whether a company can grant EMI options, see: EMI scheme—flowchart to determine company's eligibility. To help confirm whether a company and its employees qualify to grant or receive EMI options, see: EMI options—checklist to determine whether a company and its employees qualify; and for a questionnaire addressing the same point, see: Precedent: Enterprise management incentives (EMI) qualification questionnaire.

For the remaining EMI qualifying rules, consult the following Practice Notes:

EMI—Requirements for options
EMI—what makes an employee eligible?

...

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Web page updated on 21/05/2026

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