ACA job offer

Total
#1

I had been offered a trainee ACA role outside London. This is my first offer since finishing uni in July 2010

Issues :
They want me to use my holidays (ie. annual leave) to study for my 15 exams. Is this legal ?
Training costs - they are prepared to pay £3k over three years,but the rest is paid by me. Circa £10-15K in total with Kaplan.
They also would like the training costs back if I leave within 2 years of qualification. So the claw back period is 2 years.

Salary is :
1st year - 13k
2nd year - 16k in April 2012
3rd year - 18k in April 2013
Qualification - £26k .
And then £4k increases every year.

My background is :
A-levels:A,B,C
3 year degree in business management,2.1
Distinction in masters. ( 1 year full-time)
I’m turning 25 very soon and I took two gap years.One before uni and one after graduating. I don’t have any regrets but been looking for work since May 2010. I am struggling on job seekers and have no other interviews/offers.
I have some work experience and my CV is good.

I dont have any contacts and my parents are retired.

Advice please.This is not a wind-up.