Listing requirement for units requires prior continuous listing; sponsor allotment restricted, allowed for unsubscribed portion with conditions. Units proposed for allotment must have been listed on a stock exchange for at least six months prior to issuance of the meeting notice. No allotment shall be made, directly or indirectly, to any institutional investor who is a sponsor, investment manager, or related person/party/associate of the sponsor or investment manager. Provided that the sponsor may be allotted the unsubscribed portion in an institutional placement only if specified conditions are satisfied: substantial subscription of the issue, acquisition of assets from the sponsor, lock in of units allotted to sponsor, and unitholder approval for such allotment.
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Provisions expressly mentioned in the judgment/order text.
Listing requirement for units requires prior continuous listing; sponsor allotment restricted, allowed for unsubscribed portion with conditions.
Units proposed for allotment must have been listed on a stock exchange for at least six months prior to issuance of the meeting notice. No allotment shall be made, directly or indirectly, to any institutional investor who is a sponsor, investment manager, or related person/party/associate of the sponsor or investment manager. Provided that the sponsor may be allotted the unsubscribed portion in an institutional placement only if specified conditions are satisfied: substantial subscription of the issue, acquisition of assets from the sponsor, lock in of units allotted to sponsor, and unitholder approval for such allotment.
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