Regulation 26 - Administration and implementation. - Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

PART D: GENERAL EMPLOYEE BENEFITS SCHEME (GEBS) 26. Administration and implementation. (1) Subject to the provisions of these regulations, GEBS shall contain the details of the scheme and the manner in which the scheme shall be implemented and operated. (2) The shares of the company or shares of its listed holding company shall not exceed ten per cent of the book value or market value or fair value of the total assets of the scheme, whichever is lower, as appearing in its latest balance sheet (whether audited or limited reviewed) for the purposes of GEBS. (3) The secretarial auditor of the company shall certify compliance with sub-regulation (2) at the time of adoption of such balance sheet by the company.