99(1)Section 516 (introduction to SAYE option schemes) is amended as follows.
(2)In the heading omit “Approved”.
(3)In subsection (1)—
(a)omit paragraph (a) and the “and” after it, and
(b)in paragraph (b) for “those” substitute “SAYE option schemes which are Schedule 3 SAYE option”.
(4)Omit subsection (2).
(5)In subsection (3)(c) for “approved” substitute “Schedule 3”.
(6)In subsection (4)—
(a)omit the definition of “approved”, and
(b)after the definition of “SAYE option scheme” insert—
““Schedule 3 SAYE option scheme” is to be read in accordance with paragraph 1 and Part 8 of Schedule 3;”.