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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Regulation 17K: Employee Benefit Trusts in REITs Restricted to Unit-Based Schemes, Minimum Vesting Period of One Year</h1> Regulation 17K of the SEBI framework mandates that units held by an employee benefit trust in a Real Estate Investment Trust (REIT) are exclusively for unit-based employee benefit schemes. The trust cannot transfer or sell units except for these schemes, with a minimum vesting period of one year. Unappropriated units must be allocated within a specified timeframe, subject to committee approval. Managers must disclose information to prospective grantees, adhere to accounting standards, and provide detailed information for unitholder meetings. Cash held by the trust should be in liquid, unencumbered assets, and unitholdings must be disclosed as 'non-sponsor and non-public.' Changes in management affect fee entitlements and unit handling.
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