Regulation 17D - Secondary acquisition

Secondary acquisition restrictions: employee benefit trusts face limits, mandatory holding periods, approval and disclosure obligations.

Secondary acquisition by the employee benefit trust is limited to prevent trading by the trust, requires unitholder approval, a minimum holding period for acquired units, and advance disclosure of the acquisition period to recognised stock exchanges and depositories; managers must submit employee lists with tax identifiers to enable depository-imposed lock-ins that restrict employee sales during the disclosed acquisition period.