Minimum unit holder requirement for InvITs strengthened to ensure collective non-sponsor ownership and greater unit divisibility. Amendments revise subscription wording and denomination, reduce tradable unit size to one unit, and add a requirement that five non-sponsor unitholders collectively hold at least twenty-five per cent of an InvIT, counting a unitholder together with its associates and related parties as one unitholder.
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.
Minimum unit holder requirement for InvITs strengthened to ensure collective non-sponsor ownership and greater unit divisibility.
Amendments revise subscription wording and denomination, reduce tradable unit size to one unit, and add a requirement that five non-sponsor unitholders collectively hold at least twenty-five per cent of an InvIT, counting a unitholder together with its associates and related parties as one unitholder.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.