https://www.taxtmi.com/acts?id=34198 Regulation 3 governs implementation of employee share-based schemes through irrevocable trusts, mandating that schemes involving secondary acquisition or gifts be trust-implemented and that the decision to use a trust be taken at shareholder approval. A single trust can operate multiple schemes with separate accounts; SEBI-prescribed trust-deed provisions must be filed. Trustees are disqualified if they are company insiders or significant holders; trust shares are classified as non-promoter non-public and trustees must not vote them. Secondary acquisition is subject to annual and aggregate ceilings, holding periods, restricted transfers, prohibition on derivatives, and insider trading compliance. en-us Sat, 29 Dec 2018 13:11:09 +0530 Sat, 29 Dec 2018 17:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=34198 Regulation 3 governs implementation of employee share-based schemes through irrevocable trusts, mandating that schemes involving secondary acquisition or gifts be trust-implemented and that the decision to use a trust be taken at shareholder approval. A single trust can operate multiple schemes with separate accounts; SEBI-prescribed trust-deed provisions must be filed. Trustees are disqualified if they are company insiders or significant holders; trust shares are classified as non-promoter non-public and trustees must not vote them. Secondary acquisition is subject to annual and aggregate ceilings, holding periods, restricted transfers, prohibition on derivatives, and insider trading compliance. Act-Rules SEBI Sat, 29 Dec 2018 13:11:09 +0530 https://www.taxtmi.com/acts?id=34198