Continuing obligation of a REIT and an exchange traded fund (“ETF”)

​8.55

Paragraphs 8.37 and 8.40 of the Main LR among others, require a REIT and an ETF respectively, to submit a draft circular and other documents proposed to be sent to its unit holders to Bursa Securities for perusal, within a reasonable time before printing. What is considered as a “reasonable time”?

A REIT or ETF should submit the draft circular and other documents proposed to be sent to its unit holders in accordance with paragraph 9.33 of the Main LR, i.e. as soon as possible and in any event not later than 2 months from the date of the announcement or the date of the last approval necessary for the proposal is obtained from the relevant authority, whichever is the later.