Section 703 Meaning of “certified SAYE savings arrangement”
United Kingdom
In this Chapter “certified SAYE savings arrangement” means a linked savings arrangement which is certified under section 705.
In this Chapter “linked savings arrangement” means an arrangement—
which is of a kind specified in section 704(1), and
under which an individual who is eligible to participate in F1a Schedule 3 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.
In subsection (2)—
“to participate” means to obtain and exercise rights under the scheme, and
F2“Schedule 3 SAYE option scheme” has the meaning given in Schedule 3 to ITEPA 2003.
Annotations
Textual amendments
- F1
Words in s. 703(2)(b) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 141(2), 146 (with Sch. 8 paras. 147-157)
- F2
Words in s. 703(3) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 141(3), 146 (with Sch. 8 paras. 147-157)