Bangkok--24 Jun--SEC
The SEC is seeking public comment on draft revisions tothe rules governing establishment and management of infrastructure funds and Real Estate Investment Trusts (REITs). The proposed revisions intend to facilitate and promote the establishment of the said funds by lowering the unit-holding limit of infrastructure asset owners and improving vote-counting methods for seeking unitholders’ resolutions. The rules governing debt-liked investment units and the rules on seeking unit-holders’ resolutions for capital reduction will also be revised with the aim of clarifying and relaxing the requirements, respectively.
REITs regulations will be relaxed to allow the commercial banks performing a function of REIT trustees to participate in REITs related businesses, providing that a Chinese wall to prevent conflicts of interest among their business units must be in place. The relaxation will also extend to the commercial banks’ subsidiaries. With regard to an application for establishment of property fund permissible to be filed no later thanthe end of this year, the fund to be set up must be in form of specific property fund.
The consultation paper is available on the SEC website at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website or email at
[email protected] until June 25, 2013.