The Securities and Exchange Board of India (SEBI), on September 27, 2024, notified the Securities and Exchange Board of India (Real Estate Investment Trusts) (Third Amendment) Regulations, 2024 to further amend the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.
The following has been stated-
•In regulation 26ZK, in sub-regulation (1) in clause (d) the words “seven working days of such declaration” shall be substituted with the words “five working days from the record date” and the following shall be inserted as an explanation to clause (d), namely, - “Explanation. — For the purpose of above clause, record date for the payment of distribution shall be the date which is two working days from the date of the declaration of distribution (excluding the date of declaration and the record date).”
•In regulation 26, (a) in sub-regulation (3) the words “sub-regulation (1) and” shall be inserted between the words “The records specified in” and the words “sub-regulation (2) may be maintained”; (b) after sub-regulation (3), the following sub-regulations shall be inserted, namely, - “(4) The manager and the trustee shall ensure that adequate backup systems, data storage capacity, system capacity for secure handling, data transfer and arrangements for alternative means of communication in case of internet link failure, are maintained for the records maintained electronically. (5) The manager and trustee shall ensure that a business continuity plan and disaster recovery site is in place for the records maintained electronically, to maintain data and transaction integrity.”
[Notification No. SEBI/LAD-NRO/GN/2024/208]
