REIT amendments tighten holdco investment, sponsor group rules and disclosure while capping general purpose funding. The amendments define holdco and sponsor group, permit investment via holdco subject to minimum ultimate REIT holding and contractual safeguards, require managerial control and voting exercise in holdco/SPV boards, mandate substantial pass through distributions from SPVs and high distribution from holdco, cap amounts for unspecified general purposes relative to funds raised, strengthen valuer qualifications and disclosure obligations including full valuation reports and due diligence certificates, and impose refund obligations with interest where listing permission is not received.