"Trading plan is an exception to the general rule that an insider should not trade when in possession of unpublished price sensitive information". In the light of this statement, explain the concept of trading plan and i

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 trading plan shall: not entail commencement of trading on behalf of the insider earlier than six months from the public disclosure of the plan; 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; entail trading for a period of not less than twelve months; not entail overlap of any period for which another trading plan is already in existence; 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; and not entail trading in securities for market abuse.