Regulation 17K - Manner of allotment of units to the employee benefit trust by the InvIT - Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

1 [Manner of allotment of units to the employee benefit trust by the InvIT. 17K . (1) An investment manager of any InvIT that allots units to the employee benefit trust in lieu of management fees to the investment manager shall ensure the following: (a) obtaining the approval of unitholders as per sub-regulation (5) of regulation 22 of these regulations before issuance of units to the employee benefit trust; (b) issuance of units to the employee benefit trust only once in a financial year, within ninety days after the completion of the annual valuation exercise; (c) issuance of units to the employee benefit trust shall be made in compliance with the guidelines for preferential issue of units specified by the Board: (d) allotting such units directly to the employee benefit trust so that such units are used exclusively for unit based employee benefit scheme. ] ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/192 dated 09-07-2024