Read Perderabo's article on Unix file permissions in the Tips and Tutorials section of the site. It is very informative. From that article, you will also get the answer to your question:
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Originally Posted by Perderabo
Every reference that I have seen says that setgid on / group execute off is a otherwise useless combination. Even Richard Stevens (in Advanced Programming in the Unix Environment) says "Since the set-group-ID bit makes no sense when the group-execute bit is off, the designers of SVR3 chose this way to specify that the locking for a file is to be mandatory locking and not advisory locking."
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Note that if you want to know what mandatory and advisory locking are, you should read the man pages (check flock).