Transferability: units of Equity Linked Savings Scheme transferable, assignable or pledgeable only after a three-year holding period.

Units issued under the Equity Linked Savings Scheme, 2005 may be transferred, assigned or pledged only after three years from their date of issue, creating a temporal restriction on alienation and enabling assignment and the creation of security interests only upon expiry of the minimum holding period.

---

---

---