6(1)The scheme must provide that an individual may not be granted share options under it which would at the time when they are granted cause the aggregate market value of the shares which the individual may acquire by exercising share options granted under—
(a)the scheme, or
(b)any other approved CSOP scheme established by the scheme organiser or an associated company of the scheme organiser,
to exceed or further exceed £30,000.
(2)For the purposes of sub-paragraph (1) share options that have already been exercised are to be left out of account.
(3)For the purposes of sub-paragraph (1) the market value of shares is to be calculated as at—
(a)the time when the options relating to them were granted, or
(b)if an agreement relating to them has been made under paragraph 22 (requirements as to price for acquisition of shares) the earlier time or times stated in the agreement.