sec.13RElection by grantor of relevant day

### sec.13R Election by grantor of relevant day A grantor may elect to treat either of the following as the day on which wages comprising the grant of a share or option are paid or payable— the day the share or option is granted to the grantee; the vesting day for the share or option. The vesting day — for a share—is the first of the following days— the day the share vests in the grantee; the day that is 7 years after the day the share is granted to the grantee; or for an option—is the first of the following days— the day the share to which the option relates is granted to the grantee; the day the grantee exercises a right under the option to have the share to which it relates transferred or allotted to, or vest in, the grantee; the day that is 7 years after the day the option is granted to the grantee. For subsection (2) , a share vests in the grantee when— any conditions applying to the grant of the share have been met; and the grantee’s legal or beneficial interest in the share can not be rescinded. s 13R ins 2008 No. 16 s 9 amd 2011 No. 8 s 82 (sec.13R-ssec.1) A grantor may elect to treat either of the following as the day on which wages comprising the grant of a share or option are paid or payable— the day the share or option is granted to the grantee; the vesting day for the share or option. (sec.13R-ssec.2) The vesting day — for a share—is the first of the following days— the day the share vests in the grantee; the day that is 7 years after the day the share is granted to the grantee; or for an option—is the first of the following days— the day the share to which the option relates is granted to the grantee; the day the grantee exercises a right under the option to have the share to which it relates transferred or allotted to, or vest in, the grantee; the day that is 7 years after the day the option is granted to the grantee. (sec.13R-ssec.3) For subsection (2) , a share vests in the grantee when— any conditions applying to the grant of the share have been met; and the grantee’s legal or beneficial interest in the share can not be rescinded. - (a) the day the share or option is granted to the grantee; - (b) the vesting day for the share or option. - (a) for a share—is the first of the following days— (i) the day the share vests in the grantee; (ii) the day that is 7 years after the day the share is granted to the grantee; or - (i) the day the share vests in the grantee; - (ii) the day that is 7 years after the day the share is granted to the grantee; or - (b) for an option—is the first of the following days— (i) the day the share to which the option relates is granted to the grantee; (ii) the day the grantee exercises a right under the option to have the share to which it relates transferred or allotted to, or vest in, the grantee; (iii) the day that is 7 years after the day the option is granted to the grantee. - (i) the day the share to which the option relates is granted to the grantee; - (ii) the day the grantee exercises a right under the option to have the share to which it relates transferred or allotted to, or vest in, the grantee; - (iii) the day that is 7 years after the day the option is granted to the grantee. - (i) the day the share vests in the grantee; - (ii) the day that is 7 years after the day the share is granted to the grantee; or - (i) the day the share to which the option relates is granted to the grantee; - (ii) the day the grantee exercises a right under the option to have the share to which it relates transferred or allotted to, or vest in, the grantee; - (iii) the day that is 7 years after the day the option is granted to the grantee. - (a) any conditions applying to the grant of the share have been met; and - (b) the grantee’s legal or beneficial interest in the share can not be rescinded.