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[Cites 0, Cited by 0] [Section 18(16)] [Section 18] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 18(16)(a) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

(a)not less than ninety per cent of net distributable cash flows of the SPV shall be distributed to the REIT [/holdco] [Inserted by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).] in proportion of its holding in the SPV subject to applicable provisions in the Companies Act, 2013 or the Limited Liability Partnership Act, 2008;
(aa)[ with regard to distribution of net distributable cash flows by the holdco to the REIT, subject to applicable provisions in the Companies Act, 2013 or the Limited Liability Partnership Act, 2008, the following shall be complied: [Inserted by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).]
(i)with respect to the cash flows received by the holdco from underlying SPVs, 100% of such cash flows received by the holdco shall be distributed to the REIT; and
(ii)with respect to the cash flows generated by the holdco on its own, not less than 90% of such net distributable cash flows shall be distributed by the holdco to the REIT;]