Regulatory Alerts2020-01-20
Revised Implementing Rules and Regulations of Republic Act No. 9856 (REIT Act of 2009)
The Securities and Exchange Commission promulgated the Revised Implementing Rules and Regulations for the Real Estate Investment Trust Act of 2009 to establish a comprehensive legal framework for REITs in the Philippines. These rules define key terms, mandate the creation of a REIT Plan for public offerings, and require annual dividend distributions of at least ninety percent of distributable income to shareholders. The regulations further enforce foreign ownership limitations for land-owning REITs and set forth strict corporate governance and disclosure standards to protect investors.
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