REIT investment conditions clarified: expanded asset classes, hedging via interest rate derivatives and strict disclosure requirements. Amendments broaden permissible REIT assets and cash equivalents, add a definition of common infrastructure permitting excess-sale subject to audited disclosure, allow investments in service companies and qualifying mutual fund units, permit interest rate derivatives solely for hedging, and restrict infrastructure investments to cases where REITs earn fixed rental income without operational risk, with illustrative conditions in Schedule XI.
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Provisions expressly mentioned in the judgment/order text.
REIT investment conditions clarified: expanded asset classes, hedging via interest rate derivatives and strict disclosure requirements.
Amendments broaden permissible REIT assets and cash equivalents, add a definition of common infrastructure permitting excess-sale subject to audited disclosure, allow investments in service companies and qualifying mutual fund units, permit interest rate derivatives solely for hedging, and restrict infrastructure investments to cases where REITs earn fixed rental income without operational risk, with illustrative conditions in Schedule XI.
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