3(1)An SAYE option scheme established by a company that controls one or more other companies (a “parent scheme company”) may extend to all or any of those other companies.
(2)In the SAYE code an SAYE option scheme established by a parent scheme company which so extends is called a “group scheme”.
(3)In relation to a group scheme a “constituent company” means—
(a)the parent scheme company, or
(b)any other company to which for the time being the scheme is expressed to extend.
(4)Paragraph 46 deals with jointly owned companies and companies controlled by them.