(SAYE) formal approval

What we need from you

When the Scheme Rules and ancillary documents are in a form capable of approval please submit the documents listed below together with the application form (RTF 7K).

• One set of final plan rules.
• One set of all final ancillary documents. We need copies of all the ancillary documents to be used in the scheme.
• One copy of the current Articles of Association.
• One copy of any current Investor or Shareholders agreements
• A declaration (on headed company paper) by the company that the plan shares satisfy paragraphs 18 to 22 Schedule 3 ITEPA.
• A declaration by the directors (on headed company paper) to confirm that their power to veto the transfer of shares (if this is contained within the Articles of Association) will not be used in any way to discriminate against the transfer of shares acquired under the scheme. The declaration should state that the employees participating in the scheme will be told of this declaration.
• If it is a group scheme then a declaration under paragraph 8 Schedule 3 ITEPA is required.
• One copy of the resolution unconditionally adopting the plan. This should be certified and state the date of approval of the scheme by the company.
• If the company has already adopted the plan and changes have been necessary to the plan please also supply one copy of the resolution adoption the changes.
• The application form (RTF 7K).

Formal Approval is in the form of a written notice sent to the Company with a copy sent to any Advisor acting.

If the company shares are not fully listed on either the UK or US Stock Markets a Market value for the Shares to be used under the Scheme will need to be agreed with Shares and Assets Valuation before any options are granted and you should contact them.