Delisting of units: application required when public holding falls or assets cease, with mandated exit option. The regulation requires the investment manager to apply for delisting of SM REIT scheme units upon specified triggers (decline in public holding, absence of projects/assets, regulatory or exchange direction, manager/trustee or unitholder requests). The Board and stock exchanges may approve, reject, or grant additional time. Delisting procedure must provide an exit option per the listing agreement; the investment manager must sell assets to redeem units and wind up the scheme. If all schemes are delisted, the SM REIT must surrender its 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: application required when public holding falls or assets cease, with mandated exit option.
The regulation requires the investment manager to apply for delisting of SM REIT scheme units upon specified triggers (decline in public holding, absence of projects/assets, regulatory or exchange direction, manager/trustee or unitholder requests). The Board and stock exchanges may approve, reject, or grant additional time. Delisting procedure must provide an exit option per the listing agreement; the investment manager must sell assets to redeem units and wind up the scheme. If all schemes are delisted, the SM REIT must surrender its registration while remaining liable for prior acts.
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