SCHEDULES
SCHEDULE 3Approved SAYE option schemes
Part 9Supplementary provisions
Minor definitions
48
1
In the SAYE code—
“certified contractual savings scheme” has the meaning given in section 326(2) to (6) of ICTA;
“company” means a body corporate;
“market value” has the same meaning as it has for the purposes of TCGA 1992 by virtue of Part 8 of that Act.
2
For the purposes of the SAYE code a company is a member of a consortium owning another company if it is one of a number of companies—
a
which between them beneficially own not less than 75% of the other company’s ordinary share capital, and
b
each of which beneficially owns not less than 5% of that capital.