Non-permitted investments on joining Board service may be liquidated, frozen, or disposed of under approved trading plan rules. An employee joining the Board may deal with non-permitted investments held at the time of joining by liquidating them, freezing them during service, filing a trading plan for disposal, or selling them during service without a trading plan only with prior OEC approval. For equity or convertible instruments in a commercial venture, only liquidation or freezing is permitted. If not liquidated, voting rights cannot be exercised, though receipt of equity through corporate action or rights issue is allowed. Family members may continue to hold and dispose of such investments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Non-permitted investments on joining Board service may be liquidated, frozen, or disposed of under approved trading plan rules.
An employee joining the Board may deal with non-permitted investments held at the time of joining by liquidating them, freezing them during service, filing a trading plan for disposal, or selling them during service without a trading plan only with prior OEC approval. For equity or convertible instruments in a commercial venture, only liquidation or freezing is permitted. If not liquidated, voting rights cannot be exercised, though receipt of equity through corporate action or rights issue is allowed. Family members may continue to hold and dispose of such investments.
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