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CIR 13.4.11A

(1) The Fund Manager of a Public Property Fund is not required to comply with CIR Rule 8.3.2(3) and (4)(a) for a Related Party Transaction if:
(a) the transaction is for the acquisition or sale of Real Property in the State;
(b) the Fund Manager has general Unitholder approval in accordance with (2) to enter into such transactions;
(c) the oversight provider of the Fund has confirmed in writing, before the transaction is entered into, that it is on terms that comply with the requirement in CIR Rule 8.3.2(2) and that all other applicable requirements have been complied with; and
(d) the investment committee of the Fund has confirmed in writing, before the transaction is entered into, that it is on terms that comply with the requirement in CIR Rule 8.3.2(2) and it has no objection to the transaction.
(2) Unitholder approval under (1)(b) must be by way of an ordinary resolution of the Unitholders of the Fund that:
(a) was passed at the previous annual general meeting of the Fund;
(b) is valid only until the date of the next annual general meeting of the Fund (when it may be renewed): and
(c) authorises the Fund Manager to enter into Related Party Transactions referred to in (1)(a) without obtaining prior Unitholder approval in each case during the period for which the resolution is valid.
(3) If a Fund Manager of a Public Property Fund enters into a Related Party Transaction under this Rule, it must as soon as practicable after entering into the transaction provide written notification to Unitholders of the Fund setting out relevant details of the transaction including the identity of the Related Party and the nature and extent of his interest.
[Added] RM158/2015 (Made 9th December 2015). [VER19/02-16]