SCHEDULE 3Approved SAYE option schemes
Part 3Eligibility of individuals to participate in scheme
Requirements relating to the eligibility of individuals: introduction
9
An SAYE option scheme must meet the requirements of—
paragraph 10 (the employment requirement),
F1...
The employment requirement
10
(1)
The scheme must ensure that an individual is not eligible to participate in the scheme at a particular time unless the individual is then a director or employee of—
(a)
the scheme organiser, or
(b)
in the case of a group scheme, a constituent company.
(2)
The requirement of this paragraph is not infringed by a provision of the scheme required or authorised by a provision of this Schedule.
The “no material interest” requirement
F211
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Meaning of “material interest”
F212
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Material interest: options and interests in SIPs
F213
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Meaning of “associate”
F214
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Meaning of “associate”: trustees of employee benefit trust
F215
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Meaning of “associate”: trustees of discretionary trust
F216
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