The Securities and Exchange Board of India (SEBI) on October 23, 2023, published the Securities and Exchange Board of India (Real Estate Investment Trusts) (Third Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.
This shall come into force on October 23, 2023.
The following has been amended namely: -
• In regulation 18 which states “Investment conditions and distribution policy” in sub-regulation (16) the following changes shall be made namely: -
(i) in sub-clause (f), the symbol “.” after the words “specified by the Board” shall be substituted with the symbol “:”
(ii) in sub-clause (f), the following proviso shall be inserted, namely, –
“Provided that the amount transferred to Investor Protection and Education fund shall not bear any interest.”
(iii) after sub-clause (f), the following sub-clause shall be inserted, namely, –
“(g) the unclaimed or unpaid amount of a person that has been transferred to the Investor Protection and Education Fund in terms of sub-clause (f), may be claimed in such manner as may be specified by the Board.”
[Notification No. No. SEBI/LAD-NRO/GN/2023/160]
