Regulation 17E - Manner of allotment of units to the employee benefit trust by the REIT - Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

1 [Manner of allotment of units to the employee benefit trust by the REIT. 17E . (1) A manager of any REIT that allots units to the employee benefit trust in lieu of management fees shall ensure the following: (a) obtaining the approval of unitholders as per sub-regulation (6) 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 in compliance with the guidelines for preferential issue of units specified by the Board; (d) allotting such units of REIT directly to the employee benefit trust so that these units are used exclusively for unit based employee benefit scheme. ] *************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/193 dated 09-07-2024