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of <h1>REIT Managers Must Follow Regulation 22(6) for Issuing Units to Employee Benefit Trusts; Unitholder Approval Required</h1> A manager of a Real Estate Investment Trust (REIT) that allocates units to an employee benefit trust in exchange for management fees must adhere to specific guidelines. These include obtaining unitholder approval as per regulation 22(6) before issuance, ensuring the issuance occurs only once per financial year within ninety days post-annual valuation, and complying with the Board's guidelines for preferential unit issuance. The units must be allocated directly to the employee benefit trust for exclusive use in a unit-based employee benefit scheme.
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