COLL 12.6.6 Proposal to distribute less than stated percentage

If, for a particular annual distribution, the operator of a REIT proposes not to distribute the percentage (at least 80%) of its audited annual net income (adjusted to exclude any fair value capital gains) as stated in its constitutional document and prospectus, the proposal is taken to be a fundamental change for purposes of rule 5.4.2.

Note Under rule 5.4.2, any fundamental change must have prior approval from the unitholders.

Inserted by QFCRA RM/2016-1 (as from 19th September 2016)