Sponsor de-classification allowed where unit holding cap, independent investment manager, and unitholder approval conditions are met. De-classification of sponsor status for an InvIT was permitted upon application and subject to conditions: the combined unit holding of the sponsor and ... Summary
Sponsor de-classification allowed where unit holding cap, independent investment manager, and unitholder approval conditions are met.
De-classification of sponsor status for an InvIT was permitted upon application and subject to conditions: the combined unit holding of the sponsor and its associates must remain within a prescribed cap; the investment manager must not be controlled by the sponsor or its associates; and unitholder approval must be obtained under the applicable approval mechanism.
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