Lock-in requirements for ESPS shares specify minimum holding, with exceptions for merger, death, incapacity, and public issues.

Companies may set ESPS share prices subject to compliance with regulation 15 accounting policies. ESPS shares are subject to a lock-in from allotment for a prescribed minimum period, but prior lock-in in respect of shares of a transferor company is adjustable on merger; the lock-in does not apply from the date of an employee's death or permanent incapacity; and ESPS shares issued at the same price as a concurrent public issue are exempt from lock-in.

---

---

---