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of <h1>Securities and Exchange Board of India omits Regulation 7A, altering sponsor de-classification for REITs as of August 2023.</h1> Regulation 7A of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, concerning the de-classification of a sponsor's status, was omitted as of August 16, 2023. Previously, it allowed for the de-classification of a sponsor of a REIT listed for three years, subject to certain conditions: the sponsor's unit holding, together with associates, not exceeding 10% of outstanding units; the REIT manager not being controlled by the sponsor; the sponsor not being a fugitive economic offender; and obtaining unit holders' approval as per Regulation 22.
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