Long-term specified securities designation enables reinvestment from long-term capital gains subject to prescribed holding and reconversion consequences. The notification designates certain equity shares issued by a specified public company as long-term specified securities for reinvestment of net consideration from transfer of long-term capital assets, subject to issuance within a limited period and an aggregate limit. It conditions the reinvestment benefit on investment from net consideration and provides that if the allotted shares are transferred or converted into money within the prescribed holding period, the initial investment will be chargeable to tax under the head Capital Gains.