SCHEDULES

SCHEDULE 3 U.K. Approved SAYE option schemes

Part 9 U.K. Supplementary provisions

Minor definitions U.K.

48 (1) In the SAYE code— U.K.

• “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.