Taxes Consolidation Act 1997 Schedule 12A paragraph 25

Acquisition of shares

Paragraph 25 sets the contribution rules that must be built into a certified contractual savings scheme linked to an approved savings-related share option scheme, including the required matching of savings to share cost and the monetary limits on monthly contributions.

• Contributions must be fixed at a level that, as nearly as possible, produces a repayment equal to the amount needed to acquire the shares under the option.
• The repayment amount used for this matching exercise is determined by reference to paragraph 18, which deals with the bonus payable on maturity.
• A participant's aggregate contributions under linked certified contractual savings schemes cannot exceed €500 per month.
• Any minimum monthly contribution imposed by the scheme cannot be set at more than €12 per month.

---