CIR 2.1.18

An arrangement does not constitute a Collective Investment Fund if all of the following conditions are met:

(a) the arrangement is entered into using a Property Investment Crowdfunding Platform, operated by a Crowdfunding Operator;
(b) the arrangement involves multiple investors investing in an individual apartment, house or building that has a single discrete title deed;
(c) all of the investors are Clients of the Crowdfunding Operator; and
(d) the total consideration paid by all investors in the apartment, house or building is not more than $5 million or an equivalent amount in another currency.
Derived from RM255/2019 (Made 26th July 2019). [VER25/07-19]