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48(1)In the SAYE code—U.K.
“certified contractual savings scheme” has the meaning given in section 326(2) to (6) of ICTA;
“company” means a body corporate;
“market value” has the same meaning as it has for the purposes of TCGA 1992 by virtue of Part 8 of that Act.
(2)For the purposes of the SAYE code a company is a member of a consortium owning another company if it is one of a number of companies—
(a)which between them beneficially own not less than 75% of the other company’s ordinary share capital, and
(b)each of which beneficially owns not less than 5% of that capital.