To be eligible, the company and its group must have gross assets of £30 million or less, The company whose shares are under option must be independent (i.e. not controlled by another company). It must have fewer than 250 full-time equivalent employees, have a place of business in and one group company must carry on trade predominantly or wholly within the UK. Companies with certain trading activities are excluded. These excluded trades catch (amongst other things):
Banking
Farming
Property development
Legal services
Ship building