Regulatory Alerts2020-01-01
Unit Trust Code for Sri Lanka Real Estate Investment Trust 2020
The Securities and Exchange Commission of Sri Lanka issued the Unit Trust Code for Sri Lanka Real Estate Investment Trusts, No. 1 of 2020, to establish the regulatory framework for SL-REITs. The rules mandate that managing companies obtain SEC licensing, maintain specific capital requirements, and ensure board independence while overseeing the acquisition or leasing of fully completed income-generating real estate. Furthermore, the regulations govern public offerings, require SEC approval for trust deeds, and stipulate that listed units can only be traded on licensed stock exchanges without direct redemption by the managing company.
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