Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Companies Need Shareholder Approval for Share-Based Benefit Schemes; Trusts Face Strict Rules and Limits</h1> A company may implement share-based employee benefit schemes directly or through an irrevocable trust, requiring upfront shareholder approval. If circumstances change, a special resolution is needed for any implementation mode change. Trusts must maintain separate accounts for each scheme and file trust deeds with stock exchanges. Trustees cannot be directors or major shareholders, and they must not vote on trust-held shares. Trusts are prohibited from dealing in derivatives and must adhere to specific acquisition limits. They can only transfer shares under certain conditions, such as employee transfers or corporate actions. Trusts must comply with insider trading regulations and disclosure requirements.
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