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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Collective Investment Rules (CIR) [VER25/07-19]
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(3 versions)

CIR 13.5.1

Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) A Fund ManagerG , or any PersonG making an OfferG of a UnitG of a FundG or otherwise marketing a FundG , must not include the term "Real Estate Investment Trust" or "REIT" or refer to a FundG or otherwise hold out a FundG as being a Real Estate Investment TrustG or a REITG , unless it is a Property FundG which is constituted in accordance with (2).
(2) A REITG is a Property FundG which:
(a) is constituted either as an Investment CompanyG or as an Investment TrustG ;
(b) is primarily aimed at investments in income-generating Real PropertyG ; and
(c) distributes to the UnitholdersG at least 80% of its audited annual net income.
(3) If at any time during the operation of the FundG the requirements in (2) are not met, the Fund ManagerG , and, if appointed the TrusteeG , must immediately notify the DFSAG and the exchange of the failure to meet the requirements in these RulesG and what measures have been or will be taken to remedy the breach.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] RM158/2015 (Made 9th December 2015). [VER19/02-16]
[Amended] DFSA RM218/2018 (Made 22nd February 2018) [VER23/12-18]