SCHEDULES

SCHEDULE 3Approved SAYE option schemes

Part 6Requirements etc. relating to share options

Requirements etc. relating to share options: introduction

27

(1)

An SAYE option scheme must meet the requirements of—

  • paragraph 28 (requirements as to price for acquisition of shares),

  • paragraph 29 (share options must not be transferable),

  • paragraph 30 (time for exercising options: general),

  • paragraph 31 (requirement to have a “specified age”),

  • paragraph 32 (exercise of options: death),

  • paragraph 33 (exercise of options: reaching specified age without retiring), and

  • paragraph 34 (exercise of options: scheme-related employment ends).

(2)

An SAYE option scheme may make any provision authorised by—

  • paragraph 36 (exercise of options: employment in associated company at bonus date), and

  • paragraph 37 (exercise of options: company events).