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[Cites 0, Cited by 0] [Section 4(2)] [Section 4] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 4(2)(d) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

(d)with regard to sponsor(s),-
(i)[each sponsor shall hold or propose] [Substituted 'there are not more than three sponsors each holding or proposing' by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).] to hold not less than five per cent. of the number of units of the REIT on post-initial offer basis;
(ia)[ each sponsor and sponsor group shall be clearly identified in the application of registration to the Board and in the offer document/placement memorandum, as applicable: [Inserted by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).]