New legislation amending the Law of 12 May 2014 relating to regulated real estate investment companies (hereafter “RREIC”) has been published in the Belgian State Gazette. This legislative reform brings about a number of changes to the existing regime for public and institutional RREICs. In addition, the new legislation introduces an additional category of RREICs that is exclusively focused on the social sector.
Generally speaking, the first set of changes aims to provide an incentive to the use of the PRREIC and IRREIC by eliminating a number of legal constraints that in the past haven proven to be hindrances.
Most provisions of the new legislation enter into effect with immediate effect, whereas some provisions apply with retroactive effect (as from 16 July 2014).
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