NBFCs, Mutual Funds and REITs

NBFCs, Mutual Funds and REITs

Advising National Bank of Pakistan on various matters connected to the dissolution of the NIUT LOC Holders Fund, including matters in connection with the management fees payable to National Investment Trust Limited (“NITL”) (the asset management company managing the Fund), transfer of subject shares, the role of the Privatisation Commission and NBP’s obligations as trustee of the Fund; reviewing the constitutive documents of the Fund in light of  the Non-Banking Finance Companies and Notified Entities Regulations, 2008, as well as, drafting agreements between the stakeholders.

b) Advising various clients on distribution arrangements and documentation for different mutual funds.

c) Rendering advice on statutory compliances and relevant regulatory issues including the remittance of equity into Pakistan in accordance with foreign exchange laws and regulations.

d) Preparing documentation for obtaining permission to form a Non-Banking Finance Company (NBFC) for a Dubai based financial institution, alongwith preparation of documentation for the incorporation of the NBFC intending to provide asset management and investment advisory services in Pakistan.

e) Advising clients on the recently implemented REITs Regulations 2008 particularly as to NBFC requirements for Real Estate Management Companies (RMCs) as well as permissible structures within the Regulations for the relevant REIT Scheme.


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