Schedule 4 Company Share Option Plan (CSOP): Eligibility of individuals to participate: The "no material interest" requirement: Associates
The meaning of associate is given in paragraph 12 Schedule 4 ITEPA as:
- any relative or partner of that individual (spouse or civil partner, parent, child or other lineal descendant, brother or sister),
- the trustee or trustees of any settlement of which the individual or any of the individual’s relatives is or was a settlor,
- where the individual is interested in any shares which are subject to any trust or part of the estate of a deceased person, the trustee or trustees of that settlement or the personal representatives of the deceased are associates.