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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Sponsors Must Transfer Assets, Maintain Minimum Unitholding, and Ensure Compliance in REIT Establishment Process</h1> The statutory provision outlines the rights and responsibilities of sponsors in Real Estate Investment Trusts (REITs). Sponsors must establish the REIT, appoint a trustee, and transfer their entire shareholding or real estate assets to the REIT before unit allotment. They are required to maintain a minimum unitholding over time, starting with 15% for the first three years, then progressively reducing to 1% after twenty years. Sponsors remain liable for all acts related to REIT formation and asset transfer, with specific restrictions on unit transfers and encumbrances.
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