# Income Tax (Earnings and Pensions) Act 2003, Paragraph 25

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

(1) The scheme must provide for a person’s contributions under the the approved savings arrangement to be of an amount that will secure, as nearly as possible, repayment of an amount equal to the option price.
(2) The “option price” means the amount payable, on exercising share options granted under the scheme, in order to acquire the maximum number of shares that may be acquired under them (see paragraph 28).
(3) The scheme must neither—
(a) permit the aggregate amount of a person’s contributions under certified SAYE savings arrangements linked to Schedule 3 SAYE option schemes to exceed £500 per month, nor
(b) impose a minimum on the amount of a person’s contributions which exceeds £10 per month.
(4) The Treasury may by order amend sub-paragraph (3) by substituting for any amount for the time being specified there an amount specified in the order.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/3/paragraph/25 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.