Requirements relating to shares that may be subject to share options: introduction
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17(1)An SAYE option scheme must meet the requirements of—
paragraph 18 (shares must be ordinary shares of certain companies),
paragraph 19 (requirements as to listing),
paragraph 20 (shares must be fully paid up and not redeemable),
paragraph 21 (only certain kinds of restrictions allowed), and
paragraph 22 (requirements as to other shareholdings).
(2)In this Part “eligible shares” means shares which may be acquired by the exercise of share options under the scheme.