(1)In this Chapter “certified SAYE savings arrangement” means a linked savings arrangement which is certified under section 705.
(2)In this Chapter “linked savings arrangement” means an arrangement—
(a)which is of a kind specified in section 704(1), and
(b)under which an individual who is eligible to participate in an approved SAYE option scheme enters into a contract to make periodical contributions for a specified period for the purpose of being able to participate in that scheme.
(3)In subsection (2)—
“to participate” means to obtain and exercise rights under the scheme, and
“SAYE option scheme” has the meaning given by section 516(4) of ITEPA 2003, and such a scheme is “approved” if it is approved under Schedule 3 to ITEPA 2003.