Section 3(15)(c) in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014

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Securities And Exchange Board Of India - Subsection

Section 3(15)(c) in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014

(c)in case of emergency for implementing the schemes covered under Part D and Part E of Chapter III of these regulations, and for this purpose -

(i)the trustee shall record the reasons for such sale; and

(ii)money so realised on sale of shares shall be utilised within a definite time period as stipulated under the scheme or trust deed.