I find it interesting that ThompsonFly and Brittania in their recent scheme both stipulate such narrow requirements in terms of A level subjects. The CTC scheme simply requires a few A levels at decent grades to allow you a crack at their process, and from what others have said, the Brittannia maths/physics stuff at their selection was much harder than CTC's 15 questions in 15 minutes. Flybe also seem to put their applicants through more of a mathematical grilling.
Why the differing emphasis?
As for the meat and bones of this scheme WWW has hit the nail on the head. It's more attractive than self sponsorship, to some people I'm sure, but it does look to be a rather poor unhealthy distant relation of the CTC scheme.