The Securities and Exchange Board of India (SEBI) on July 12, 2024, issued the Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2024 to further amend the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.
The following amendments have been stated:
• In regulation 10, after sub-regulation (29), the following new sub-regulation shall be inserted, namely,-
“(30) The manager may at its discretion, offer unit based employee benefit scheme for its employees based on the units of the REIT subject to compliance with the provisions of Chapter IVA of these regulations.”
• After Chapter IV and before Chapter V, the following has been inserted:
“CHAPTER IVA FRAMEWORK FOR UNIT-BASED EMPLOYEE BENEFIT SCHEME”
• In regulation 26H, the Explanation under clause (b) has been omitted.
• After schedule IX, the following new schedule has been inserted, - “Schedule – X”
They shall come into force on July 12, 2024.
[Notification No. SEBI/LAD-NRO/GN/2024/193]
