ETASSUM33040 - Schedule 3 SAYE option schemes: Shares to which schemes can apply: Status of the company and its share capital

Paragraph 18 imposes two requirements:

  • one concerns the company whose shares may be used as scheme shares, and
  • the other requires the scheme shares to form part of the ordinary share capital of that company.

»Ê¹ÚÌåÓýappse requirements should be considered in conjunction with paragraph 19 which concerns the “statusâ€� of the company whose shares are to be used in the scheme. For example, if the scheme shares are in a company which is a subsidiary, it must be listed on a recognised stock exchange or have a listed parent (see ETASSUM33130).