SEBI has amended the Real Estate Investment Trust Regulations 2014 and the Infrastructure Investment Regulations 2014 to provide for the following amendments:

• In case of a fast track rights issue under both Regulations, a ReIT/ InvIT will not be required to file the draft offer document subject to the fulfilment of specified conditions.

• With respect to the eligibility criteria for investment managers under the InvIT regulations, a combined experience of not less than 30 years of the directors, partners and employees of the investment manager, in fund management /advisory services /development in the infrastructure sector, may also be considered  in addition to the experience of not less than five years of the investment manager alone. However, for computing such combined experience, the experience of directors, partners, employees having more than 5 years of experience would be considered.

The amendments are effective from 3 March 2020. To refer to the notification of the SEBI (Infrastructure Investment Trusts) (Amendment) Regulations 2020, dated 2 March 2020, click here and the SEBI (Real Estate Investment Trusts) (Amendment) Regulations 2020, dated 2 March 2020, click here.