Delisting of units may be initiated on specified regulatory grounds; the regulator can approve, reject, or require winding up. Delisting of units requires the manager to apply when specified grounds arise, including inadequate public holding, absence of projects or assets beyond six months without reinvestment plans, regulatory or exchange directions, or sponsor/trustee/unit holder requests. The Board and designated exchanges may approve, reject, or impose conditions and may grant additional time to comply. Procedures for delisting and exit options follow the listing agreement and Board/exchange specifications. The Board may require winding up and asset sale to redeem units; after delisting the REIT must surrender its certificate of registration while remaining liable for prior acts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delisting of units may be initiated on specified regulatory grounds; the regulator can approve, reject, or require winding up.
Delisting of units requires the manager to apply when specified grounds arise, including inadequate public holding, absence of projects or assets beyond six months without reinvestment plans, regulatory or exchange directions, or sponsor/trustee/unit holder requests. The Board and designated exchanges may approve, reject, or impose conditions and may grant additional time to comply. Procedures for delisting and exit options follow the listing agreement and Board/exchange specifications. The Board may require winding up and asset sale to redeem units; after delisting the REIT must surrender its certificate of registration while remaining liable for prior acts.
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