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

From HM Revenue & Customs · Employee Tax Advantaged Share Scheme User Manual

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.

These requirements should be considered in conjunction with paragraph 19 which concerns the “status” 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).