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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2024

09-Jul-2024 | No. SEBI/LAD-NRO/GN/2024/193

SEBI has issued Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2024 further to amend Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.

Key highlights:-

1. In regulation 2 (1), new clause is inserted - (la) "employee unit option scheme" means a scheme under which the manager grants unit options to its employees through an employee benefit trust. Explanation. - For the above purpose, employees of the manager shall include all directors of the manager except independent directors.

2. After regulation 2 (t), new clause is inserted - (ta) "liquid asset" means cash, units of overnight or liquid mutual fund schemes, fixed deposits of scheduled commercial banks, government securities, treasury bills, repo on government securities and repo on corporate bonds.

3. After regulation 10 (29), new sub-regulation is inserted, namely - (30) The manager may at its discretion, offer unit based employee benefit scheme for its employees based on the units of the REIT subject to compliance with the provisions of Chapter IVA of these regulations.

4. After chapter IV , Chapter IVA - 'Framework For Unit Based Employee Benefit Scheme' is inserted.

For more information refer the attachment.

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