Shareholding cap in GEBS limits company and listed holding company shares to a fixed lower-of valuation proportion of scheme assets. Regulation 26 requires a General Employee Benefits Scheme (GEBS) to detail its terms and the manner of implementation. It imposes a quantitative restriction that the scheme must not hold company shares or shares of its listed holding company beyond a cap measured against the scheme's total assets; that cap is the lower of book value, market value or fair value as reflected in the scheme's latest balance sheet for GEBS purposes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Shareholding cap in GEBS limits company and listed holding company shares to a fixed lower-of valuation proportion of scheme assets.
Regulation 26 requires a General Employee Benefits Scheme (GEBS) to detail its terms and the manner of implementation. It imposes a quantitative restriction that the scheme must not hold company shares or shares of its listed holding company beyond a cap measured against the scheme's total assets; that cap is the lower of book value, market value or fair value as reflected in the scheme's latest balance sheet for GEBS purposes.
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