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of <h1>Regulation 17J: Employee Benefit Trusts Limited to 2% Secondary Acquisition in InvITs Annually, 5% Total Cap Imposed</h1> Regulation 17J of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, outlines the framework for secondary acquisition by an employee benefit trust. It prohibits using the trust for trading in InvIT units and limits secondary acquisitions to 2% of total outstanding units per financial year. The trust's total holdings from secondary acquisitions must not exceed 5% of outstanding units, excluding new issues or gifts. Unitholder approval is required, and acquired units must be held for at least six months. The trust must disclose acquisition periods in advance, and employee holdings are subject to lock-in during these periods.
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