SEBI Exempts Employee Benefit Trusts Under UBEB Scheme from One-Year Lock-In on Units Allotted to Non-Sponsor Entities
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Circular No. SEBI/HO/DDHS/DDHS-PoD-2/P/CIR/2024/158, Dated 13.11.2024
Earlier, SEBI introduced a framework for the unit-based employee benefit (UBEB) scheme for REITs and InvITs, which included a lock-in requirement for units issued to non-sponsor entities, mandating a one-year lock-in from the date of trading approval. Now, to support employee benefit trusts in acquiring units and subsequently transferring them to employees under the UBEB scheme, SEBI now proposes that these lock-in restrictions will not apply to units allotted to an employee benefit trust.
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