When share or option is granted
13O When share or option is granted
A share is granted to a person if—
another person transfers the share to the person, other than by issuing the share to the person; or
another person allots the share to the person; or
the requirements for the grant of a share prescribed under a regulation are satisfied.
An option is granted to a person if—
another person transfers the right to the share to which the option relates to the person; or
another person creates the right to the share to which the option relates in the person; or
the requirements for the grant of an option prescribed under a regulation are satisfied.
Also, a share or an option is granted to a person if—
the person acquires a legal interest in the share or right from another person other than in a way mentioned in subsection (1) or (2); or
the person acquires a beneficial interest in the share or option from another person.
This provision refers to the regulations (a regulation
). Made under this Act:
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