Manner of receiving units by the employee benefit trust

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....ering unit based employee benefit scheme: (a) The manager may receive the units of REIT in lieu of management fees, through the employee benefit trust, only for the limited purpose of providing unit based employee benefit on such units; Explanation. - For the above purpose, the manager may take full or part of the management fees in the form of units of REIT. (b) A shareholder of manager m....

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....cash accumulated by the employee benefit trust on account of distributions received on units of the REIT held by such trust, income earned on the assets held by the employee benefit trust and receipt of exercise price from the employees of the manager on exercise of options, may be used by the employee benefit trust for acquiring units of the REIT either from the secondary market or during any fre....