Minimum vesting period for SARs requires adjustment on transfer and vests immediately on death or permanent incapacity.

Regulation 24 requires a minimum vesting period of one year for SAR schemes, with prior holding periods of SARs transferred through merger or amalgamation to be adjusted against this minimum; in case of death or permanent incapacity the minimum vesting period does not apply and SARs vest on the date of death or permanent incapacity, and the implementing company must frame an appropriate policy on such events subject to applicable law.

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