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...

EMI share options (UK): employee eligibility—employment status, working time, material interest and associates; residence and disqualifying events

Published by a LexisNexis Share Incentives expert

Practice notes

The enterprise management incentives (EMI) scheme

The enterprise management incentives (EMI) scheme is a notably adaptable and tax-efficient arrangement tailored for small and medium-sized companies. The EMI framework is highly prescriptive and specifies a range of conditions that must be in place when options are granted, including matters relating to:

the company granting the options
the employees to whom the options are granted
the shares subject to the option
the terms of the options themselves

This Practice Note concentrates on the requirements an employee must satisfy to be eligible to receive EMI options. Those requirements are set out with reference to the income tax relief contained in sections 527–541 of the Income Tax (earnings and Pensions) Act 2003 (ITEPA 2003).

For further detail on the tax reliefs available to qualifying EMI options, see Practice Notes: EMI—income tax and NIC treatment of options, EMI—CGT, including business asset disposal relief, and corporation tax relief and EMI and disqualifying events.

For a visual guide to assess whether an employee meets the criteria to be granted EMI options, see: EMI scheme—flowchart to determine employee's eligibility...

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Web page updated on 21/05/2026

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