25(1)The scheme must provide for a person’s contributions under the [F1the approved savings arrangement] to be of an amount that will secure, as nearly as possible, repayment of an amount equal to the option price.U.K.
(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)permit the aggregate amount of a person’s contributions under [F2certified SAYE savings arrangements linked to approved SAYE option schemes] to exceed £250 per month, nor
(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.
Textual Amendments
F1Words in Sch. 3 para. 25(1) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(8)(b) (with Sch. 2)
F2Words in Sch. 3 para. 25(3)(a) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(8)(c) (with Sch. 2)