Regulation 17B - Nature of scheme and implementation of scheme through trust - Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

1 [Nature of scheme and implementation of scheme through trust. 17B . (1) The unit based employee benefit scheme shall be in the nature of employee unit option scheme. (2) Any offer of a unit based employee benefit scheme by the manager shall not result in any additional cost to the REIT, its HoldCo and SPV. (3) The unit based employee benefit scheme shall be implemented through a separate employee benefit trust which shall be created by the manager. (4) The manager shall ensure that the trust deed under which the employee benefit trust is formed contains provisions as specified in Part A of Schedule X of these regulations. ] *************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/193 dated 09-07-2024