Unit based employee benefit schemes regulated: framework for employee unit option schemes, acquisition limits, vesting, disclosure and governance. Regulations create a framework for unit based employee benefit schemes implemented as employee unit option schemes through separate employee benefit trusts, stipulating permissible modes for the trust to receive units (including in lieu of management fees, gifts or manager transfers), prohibiting subordinate units, limiting secondary acquisitions, requiring unitholder approvals for specified actions, prescribing trustee qualifications, imposing vesting and lock-in requirements, mandating disclosure, accounting and insider trading compliance, and detailing trust deed and scheme content requirements in Schedule X.