Allotment of units to employee benefit trusts requires unitholder approval and one annual direct issuance under preferential issue rules. Allotment of units to an employee benefit trust in lieu of management fees requires prior unitholder approval, may occur only once per financial year within ninety days of the annual valuation, must comply with Board guidelines for preferential issue, and must be allotted directly to the employee benefit trust for exclusive use in unit based employee benefit schemes.