Repeal of employee stock option guidelines, with transitional compliance timelines and savings preserving prior rights. Regulation 31 repeals the 1999 ESOS and ESPS Guidelines and provides transitional arrangements: a continued prohibition on acquiring securities from the secondary market until schemes align with the 2014 Regulations; listed companies must comply within one year subject to exceptions allowing trusts limited periods to reduce shareholdings and to continue certain share classifications and trustee voting; and savings preserve prior rights, liabilities, proceedings and treat prior actions and references as operating under the corresponding provisions of the 2014 Regulations.
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Provisions expressly mentioned in the judgment/order text.
Repeal of employee stock option guidelines, with transitional compliance timelines and savings preserving prior rights.
Regulation 31 repeals the 1999 ESOS and ESPS Guidelines and provides transitional arrangements: a continued prohibition on acquiring securities from the secondary market until schemes align with the 2014 Regulations; listed companies must comply within one year subject to exceptions allowing trusts limited periods to reduce shareholdings and to continue certain share classifications and trustee voting; and savings preserve prior rights, liabilities, proceedings and treat prior actions and references as operating under the corresponding provisions of the 2014 Regulations.
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