Nomination and Remuneration Committee oversight of unit based employee benefit schemes requires administration, scheme terms and compliance safeguards. The nomination and remuneration committee of the investment manager is responsible for administration and superintendence of the unit based employee benefit scheme, must formulate detailed scheme terms including Part B of Schedule IX, and must frame policies and procedures to ensure compliance by managers, directors, sponsors, recipients and the employee benefit trust with insider trading and fraudulent and unfair trade practices rules.