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This circular provides relaxation from certain provisions for units allotted to an employee benefit trust for unit-based employee benefit schemes, aligns timelines for making distributions by InvITs, and specifies the format for quarterly reports and compliance certificates. Specifically, it exempts employee benefit trusts from lock-in and allotment restrictions for preferential unit issuances. It mandates InvITs to follow the format for quarterly reports and compliance certificates specified by the Bharat InvITs Association in consultation with SEBI. Additionally, it modifies the Master Circular to align the timelines for making distributions by InvITs with the amended regulations.
This circular provides relaxation from certain provisions for units allotted to an employee benefit trust for unit-based employee benefit schemes, aligns timelines for making distributions by InvITs, and specifies the format for quarterly reports and compliance certificates. Specifically, it exempts employee benefit trusts from lock-in and allotment restrictions for preferential unit issuances. It mandates InvITs to follow the format for quarterly reports and compliance certificates specified by the Bharat InvITs Association in consultation with SEBI. Additionally, it modifies the Master Circular to align the timelines for making distributions by InvITs with the amended regulations.
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