Other requirements

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..... undertake any transfer or sale of units of the REIT held by it except for providing unit based employee benefits in accordance with this chapter. (3) The units of the REIT transferred to the employee benefit trust shall be locked in by the depository and shall be released by the depository only for the transfer of units to the employees of the manager as per the unit based employee benefit scheme .....

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..... t based employee benefit scheme shall follow the requirements including the disclosure requirements of the Accounting Standards prescribed by the Central Government in terms of section 133 of the Companies Act, 2013 including any 'Guidance Note on Accounting for employee share-based Payments' issued in that regard from time to time. (8) The manager granting options to its employees pursuan .....

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..... ose of disclosure to the recognised stock exchanges. (12) In case of change in manager, the outgoing manager shall no longer receive management fees or units in lieu of management fees from the REIT and accordingly shall not offer any fresh unit based employee benefit scheme based on the units of such REIT. (13) In case of change in manager, the employee benefit trust of the outgoing manager shall .....

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