SCHEDULES
SCHEDULE 3F2... SAYE option schemes
Part 5Requirement for linked savings F4arrangement
Word in Sch. 3 Pt. 5 heading substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(5)(a) (with Sch. 2)
Requirements as to contributions to savings F5arrangements
Word in Sch. 3 para. 25 heading substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(8)(a) (with Sch. 2)
25
1
The scheme must provide for a person’s contributions under the F3the approved savings arrangement to be of an amount that will secure, as nearly as possible, repayment of an amount equal to the option price.
2
The “option price” means the amount payable, on exercising share options granted under the scheme, in order to acquire the maximum number of shares that may be acquired under them (see paragraph 28).
3
The scheme must neither—
a
b
impose a minimum on the amount of a person’s contributions which exceeds £10 per month.
4
The Treasury may by order amend sub-paragraph (3) by substituting for any amount for the time being specified there an amount specified in the order.
Word in Sch. 3 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 103, 146 (with Sch. 8 paras. 147-157)