Regulation 26H - Definitions - Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

1 [ Definitions. 26H . In this chapter, unless the context otherwise requires, the terms defined herein shall have the meanings assigned to them below, and their cognate expressions shall be construed accordingly, (a) investment manager means a company incorporated in India, which sets up SM REIT and manages assets and investments of the SM REIT and undertakes operational activities of the SM REIT; (b) liquid net worth means net worth deployed in liquid assets, which are unencumbered. 2 [ **** ] (c) Small and Medium REIT or SM REIT means a REIT that pools money from investors under one or more schemes in accordance with sub-regulation (2) of regulation 26P; (d) scheme means a distinct and separate scheme of an SM REIT launched under this chapter for owning of real estate assets or properties through special purpose vehicles; (e) scheme offer document means any document described or issued as a scheme offer document including any notice, circular, advertisement or other document inviting offers for subscription or purchase of units of a scheme from the public; (f) special purpose vehicle or SPV means any company which is a wholly owned subsidiary of the scheme of the SM REIT and the SPV shall not have any other capital or ownership interest in it; (g) trustee means a trustee registered with the Board under Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, who holds the assets of SM REIT and its schemes in trust and for the benefit of the unit holders, in accordance with these regulations. ] ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/166 dated 08-03-2024 2. Omitted vide Notification No. SEBI/LAD-NRO/GN/2024/193 dated 09-07-2024 before it was read as, Explanation. For the purposes of this chapter, liquid asset means cash, units of overnight or liquid mutual fund schemes, fixed deposits, government securities, treasury bills and repo on government securities;