SEBI (Share Based Employee Benefits) Regulations, 2014
Pointwise simplifed version
SEBI has issued circular dtd. 16.06.2015 specifying guidelines for processes/disclosures which were to be specified by SEBI in pursuance of SEBI (Share Based Employee Benefits) Regulations, 2014.
The regulations were notified on 28.10.2014 and relate to ESOPS to be issued by listed Cos. in pursuance of power conferred upon SEBI vide rule 12(11) of Companies (Share Capital and Debentures) Rules, 2014.
Applicability:- All Companies whose shares are listed on recognised STX.
Matters for which directions issued by SEBI in circular dated 16.06.2015:-
1. Minimum prov. To be in trust deed (Regulations allow implementation of sceme through trust)
2. T&C of scheme to include certain provisions
3. Contents of explanatory stat. to shareholders
4. Info. to be filed to STX in case of issue of new shares under scheme
5. Format for notifying STX regarding exercise option under scheme
6. Disclosure in Directors report
7. Disclosure to b given to option grantees
1.This has reference to the SEBI (Share Based Employee Benefits) Regulations, 2014 (“the Regulations”) notified on October 28, 2014. The Regulations provide for certain processes / disclosure requirements to be specified by SEBI.
2. The stock exchanges are advised to bring the contents of this circular to the notice of the companies listed on them and ensure its compliance.
3. This circular is being issued in exercise of the powers under regulation 28 of the Regulations and section 11 read with section 11A of the Securities and Exchange Board of India Act, 1992.
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