Sponsor lock-in and Self Sponsored Manager rules revised, adding nomination rights for large unitholders and a stewardship code. The amendment adds definitions for group entities of the Manager and Self-Sponsored Manager, grants unitholders meeting a ten percent threshold a board nomination right subject to recusal and adherence to a new stewardship code, restructures sponsor minimum unitholding into staggered locked-in tiers with a monetary cap and transitional rules, omits regulation 7A, and prescribes conditions and an exit option for conversion to a Self-Sponsored Manager alongside stewardship principles in Schedule IX.
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Sponsor lock-in and Self Sponsored Manager rules revised, adding nomination rights for large unitholders and a stewardship code.
The amendment adds definitions for group entities of the Manager and Self-Sponsored Manager, grants unitholders meeting a ten percent threshold a board nomination right subject to recusal and adherence to a new stewardship code, restructures sponsor minimum unitholding into staggered locked-in tiers with a monetary cap and transitional rules, omits regulation 7A, and prescribes conditions and an exit option for conversion to a Self-Sponsored Manager alongside stewardship principles in Schedule IX.
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