Employee share based benefits regulated to require shareholder approval, trust governance, disclosures and enforceable acquisition limits. The regulations create a uniform regime for employee share based benefit schemes and sweat equity for listed companies, permitting implementation directly or through an irrevocable trust subject to detailed trust deed, trustee, accounting and disclosure requirements. They mandate compensation committee governance, shareholder approval for schemes and certain material changes, limits on secondary acquisitions and trust holdings, minimum vesting and lock in periods, non transferability of options and SARs, prescribed valuation and accounting treatment for sweat equity, and extensive disclosure, audit and stock exchange filing obligations.