# Income Tax (Earnings and Pensions) Act 2003, Paragraph 17

Extent: E+W+S+N.I.

(1) An SAYE option scheme must meet the requirements of—
paragraph 18 (shares must be ordinary shares of certain companies),
paragraph 19 (requirements as to listing),
paragraph 20 (shares must be fully paid up and not redeemable), and
...
paragraph 22 (requirements as to other shareholdings).
(1A) Sub-paragraph (1) and the other paragraphs of this Part are subject to paragraph 37(6B).
(2) In this Part “eligible shares” means shares which may be acquired by the exercise of share options under the scheme.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/3/paragraph/17 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.