The Asian Banker, 27 May 2009
The Monetary Authority of Singapore (MAS) has released a consultation paper on a proposal to amend the Property Fund Guidelines to mandate that REITs hold Annual General Meetings (AGMs).
The proposed amended guidelines will apply to all REITs which are regulated as Collective Investment Schemes (CIS) in Singapore. Under the proposal, REITs will be required to hold AGMs once every calendar year and not more than 15 months from the last preceding AGM, with effect from 1 January 2010. This means all REITs will have held an AGM by 31 Dec 2010.
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