The Securities and Futures Commission (SFC) announces that amendments to the Code on Real Estate Investment Trusts (REIT Code) have taken effect (Note 1).
For connected party transactions which were entered into before today, a transitional period of six months will be allowed for REITs to comply with the revised requirements.
Frequently Asked Questions on the SFC website have been revised to reflect the changes to the REIT Code. The SFC’s circular regarding vetting and approval of announcements and circulars has also been updated.
- The final amendments to the REIT Code were set out in the Consultation Conclusions on Proposed Amendments to the Code on Real Estate Investment Trusts published on 27 November 2020. The amendments were gazetted today and became effective immediately.