Securities And Exchange Board Of India - Subsection
Section 22(5) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
(5)In case of,-(a)any approval from unit holders required under regulations 18, 19 and 21;(b)any transaction, other than any borrowing, value of which is equal to or greater than twenty five per cent of the REIT assets;(c)any borrowing in excess of specified limit as required under sub-regulation (2) of regulation 20;(d)any issue of units after initial offer by the REIT, in whatever form, other than any issue of units which may be considered by the Board under sub-regulation(6);(e)increasing period for compliance with investment conditions to one year in accordance with proviso to sub-regulation (9) of regulation 18;(f)any issue, in the ordinary course of business, which in the opinion of the sponsor(s) or trustee or manager, is material and requires approval of the unit holders, if any;(g)any issue for which the Board or the designated stock exchange requires approval under this sub-regulation,approval from unit holders shall be required where the votes cast in favour of the resolution shall be [more than] [Substituted 'not less than one and half times' by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).] the votes cast against the resolution.
