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<h1>SEBI Amends REIT Regulations: New Definitions, Unitholder Director Nominations, and Self-Sponsored Manager Conditions.</h1> The Securities and Exchange Board of India (SEBI) has issued the Second Amendment Regulations, 2023, for Real Estate Investment Trusts (REITs), effective upon publication in the Official Gazette. Key changes include definitions for 'group entities of the Manager' and 'Self-Sponsored Manager,' provisions for unitholder director nominations, and adjustments to sponsor holding requirements over time. The regulations also introduce a stewardship code for significant unitholders and conditions for conversion to a Self-Sponsored Manager. The amendments aim to enhance governance, transparency, and compliance within REITs, ensuring alignment with SEBI's regulatory framework.