Revised Implementing Rules and Regulations of Republic Act No. 9856, Otherwise Known as the Real Estate Investment Trust (REIT) Act of 2009

January 20, 2020SEC MEMORANDUM CIRCULAR NO. 01-20SUBJECT:Revised Implementing Rules and Regulations of Republic Act No. 9856, Otherwise Known as the Real Estate Investment Trust (REIT) Act of 2009 Pursuant to Section 22 of Republic Act No. 9856, An Act Providing the Legal Framework for Real Estate Investment Trust, the following Implementing Rules and Regulations are hereby promulgated.RULE 1Title of RulesThese Rules shall be referred to as the "Implementing Rules and Regulations of Republic Act No. 9856, otherwise known as the Real Estate Investment Trust (REIT) Act of 2009" or the "REIT Rules."RULE 2ObjectivesThese Rules are promulgated consistent with the declared policy of the State to promote the development of the capital market, democratize wealth by broadening the participation of Filipinos in the ownership of real estate in the Philippines, use the capital market as an instrument to help finance and develop infrastructure projects, and protect the investing public. The implementation and application of these Rules shall adhere as closely as possible to the attainment of the foregoing policy objectives.RULE 3Definition of Terms Used in the...