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YC 7: When sections YC 8 to YC 19B apply
or “When special rules apply to change how continuity provisions work”
You could also call this:

“What happens to shares or options when the owner dies”

When someone dies and you get their share or option to buy a share because you’re named in their will or you’re their closest family, the law treats you in a special way. It’s as if you got the share or option on the same day the person who died got it. The law also acts like you’ve been holding onto it the whole time, right up until you actually received it. This rule applies whether you get the share or option as someone who benefits from the will or as someone in charge of looking after the person’s things after they die.

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Next up: YC 9: Shares or options held by trustees

or “Rules for trustees holding company shares or options”
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Part Y Definitions and related matters
Measurement of company ownership

YC 8Death of share or option holder

  1. If a person acquires a share or option over a share on the death of a person (the deceased person), as a beneficiary or trustee under the will or intestacy, the person is treated as—

  2. having acquired the share or option on the date the deceased person acquired it; and
    1. having held it until the person in fact acquired it.

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