Securities And Exchange Board Of India - Subsection
Section 3(1) in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014
(1)A company may implement schemes either directly or by setting up an irrevocable trust(s):Provided that if the scheme is to be implemented through a trust the same has to be decided upfront at the time of taking approval of the shareholders for setting up the schemes:Provided further that if the scheme involves secondary acquisition or gift or both, then it is mandatory for the company to implement such scheme(s) through a trust(s).
