SEBI (Real Estate Investment Trusts) Regulations, 2014

Last updated: 25 October 2023

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The Securities and Exchange Board of India (SEBI) has issued amendments to the Real Estate Investment Trusts (REITs) Regulations, 2014. These changes, effective from their publication in the Official Gazette, specifically update regulation 18 concerning the Investor Protection and Education Fund. Key amendments include a change in punctuation and a new proviso stating that amounts transferred to the fund will not bear interest. Additionally, a new sub-clause clarifies how unclaimed or unpaid amounts transferred to the fund can be claimed.

SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 20th October, 2023

SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (THIRD AMENDMENT) REGULATIONS, 2023

No. SEBI/LAD-NRO/GN/2023/160.—In exercise of the powers conferred under section 30 read with sections 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, namely: –

1. These regulations may be called the Securities and Exchange Board of India (Real Estate Investment Trusts) (Third Amendment) Regulations, 2023.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, in regulation 18, in sub-regulation (16), –

(1) in sub-clause (f), the symbol “.” after the words “specified by the Board” shall be substituted with the symbol “:”;

(2) 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.”

(3) 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.”

BABITHA RAYUDU, Executive Director
[ADVT.-III/4/Exty./507/2023-24]

FAQ :

The notification introduces the Securities and Exchange Board of India (Real Estate Investment Trusts) (Third Amendment) Regulations, 2023, to further amend the existing SEBI (Real Estate Investment Trusts) Regulations, 2014.

These regulations shall come into force on the date of their publication in the Official Gazette.

Regulation 18, sub-regulation (16), has been amended regarding the Investor Protection and Education Fund. Punctuation has been adjusted, and a proviso has been added stating that the amount transferred to the fund shall not bear any interest.

A new sub-clause has been inserted allowing for unclaimed or unpaid amounts transferred to the Investor Protection and Education Fund to be claimed in a manner specified by the Board.

No, according to the amendment, the amount transferred to the Investor Protection and Education Fund shall not bear any interest.