المادة 52: General Provisions

Article 52: General Provisions

a) All the provisions mentioned in these Regulations and the Rules for The Special Purposes Entities shall apply to Real Estate Investment Fund that takes the form of a special purposes entity unless these Regulations indicate otherwise.

b) For establishing a Real Estate Investment Fund that takes the form of a special purposes entity, the fund manager must submit an application to establish a special purposes entity in accordance with the provisions contained in these Regulations and the provisions contained in the Rules for Special Purposes Entities as applicable.

c) The Manager of Investment Funds that takes the form of a special purpose entity must have the by-laws certified by the relevant authority before offering fund units.

d) For the purposes of this Part, any reference to the “fund” in these regulations, the Capital Market Law and its Implementing Regulations, applies to “Real Estate Investment Fund that takes the form of a special purposes entity”.