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Eligibility criteria
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.... the generality of the foregoing provision, the Board shall consider the following, namely,- (a) the applicant is the investment manager on behalf of the trust and the instrument of trust is in the form of a deed duly registered in India under the provisions of the Registration Act, 1908; (b) the trust deed has its main objective as undertaking activity of SM REIT through one or ....
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.... real estate industry or real estate fund management: Provided that in case the investment manager is unable to meet the above requirement, it shall employ at least two key managerial personnel, each of whom have not less than five years' experience in the real estate industry or real estate fund management; (iv) not less than half of the directors of the investment manager are i....
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....tered into an investment management agreement with the trustee, which provides for the responsibilities of the investment manager in accordance with these regulations ; (e) the trustee is not an associate of the investment manager; (f) no unit holder of the scheme of the SM REIT enjoys superior voting or any other rights over another unit holder in the same scheme and there are n....