Namish, CFO of the ZenEX Ltd. (a listed company) has submitted a Trading Plan to the Compliance Officer of the company for approval under the provisions of SEBI regulations. What are the conditions to be taken care of by

As per Regulation 5 of the SEBI (Prohibition of Insider Trading) Regulations, 2015, an insider shall be entitled to formulate a trading plan and present it to the compliance officer for approval and public disclosure pursuant to which trades may be carried out on his behalf in accordance with such plan. The Compliance Officer shall review the trading plan to assess whether the plan would have any potential for violation of these regulations and shall be entitled to seek such express undertakings as may be necessary to enable such assessment and to approve and monitor the implementation of the plan. The following conditions shall be attached to the Trading Plan which the Compliance Officer shall assess while giving approval - It shall not entail commencement of trading on behalf of the insider earlier than 6 months from the public disclosure of the plan. Unpublished Price sensitive information shall not be in possession from formulation of the plan to implementation. It shall entail trading for a period of not less than twelve months. It shall not entail overlap of any period for which another trading plan is already in existence. It shall set out either the value of trades to be effected or the number of securities to be traded along with the nature of the trade and the intervals at, or dates on which such trades shall be effected. It shall not entail trading in securities for market abuse. It shall not entail trading for the period between the twentieth trading day prior to the last day of any financial period for which results are required to be announced by the issuer of the securities and the second trading day after the disclosure of such financial results. The trading plan once approved shall be irrevocable and the insider shall mandatorily have to implement the plan, without being entitled to either deviate from it or to execute any trade in the securities outside the scope of the trading plan.