Extension of time line for alignment with SEBI ESOS and ESPS Guidelines 1999
Summary
SEBI extends the timeline for aligning existing employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999 until new regulations are notified. The circular reiterates that the prohibition on acquiring securities from the secondary market continues during this alignment period. This extension is issued under the powers conferred by Section 11 read with Section 11A of the SEBI Act, 1992.
Text
extend the time line for aligning existing employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999 till the new regulations are notified
prohibition on acquiring securities from the secondary market shall continue till the existing schemes are aligned with the new regulations to be notified
This circular is being issued in exercise of the powers under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992
Source: SecMarx — Extension of time line for alignment with SEBI ESOS and ESPS Guidelines 1999. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.