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Governance Report
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is required to, inter alia, announce to the SGX-ST the
particulars of any acquisition or disposal of interest in Units
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later than the end of the business day following the day
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with the announcement to be posted on the SGX-ST website
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authority may prescribe.
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matters concerning IREIT must be approved by at least
a majority of the directors (excluding any interested
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interest, direct or indirect, such interested director will
abstain from voting. In such matters, the quorum must
comprise a majority of the directors and must exclude
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interest, direct or indirect, any nominees appointed
by the Sponsor and/or its subsidiaries to the Board to
represent their interests will abstain from deliberation
and voting on such matters. In such matters, the
quorum must comprise a majority of the independent
directors and must exclude nominee directors of the
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or indirect, any nominees appointed by Summit and/or
its subsidiaries to the Board to represent their interests
will abstain from deliberation and voting on such
matters. In such matters, the quorum must comprise a
majority of the independent directors and must exclude
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from voting or being counted as part of a quorum for
any meeting of the Unitholders convened to approve
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against any person in relation to any breach of any
agreement entered into by the Trustee for and on behalf
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is of the opinion that the Trustee, on behalf of IREIT,
has a prima facie case against the party allegedly in
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agreement. The directors (including its independent
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aware of any breach of any agreement entered into by
the Trustee for and on behalf of IREIT with a Related
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action as it deems necessary to protect the rights of
the Unitholders and/or which is in the interests of the
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RELATED PARTY TRANSACTIONS
The Manager’s Internal Control System
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to ensure that all future Related Party Transactions
(which term includes an “Interested Person Transaction”
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Party Transaction” as defined under the Property Funds
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- obtaining (where practicable) quotations from
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- obtaining two or more valuations from independent
professional valuers (in compliance with the
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maintain a register to record all Related Party
Transactions which are entered into by IREIT and
the basis, including any quotations from unrelated
parties and independent valuations, on which they
are entered into.
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plan a review of all Related Party Transactions entered
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reports at least twice a year to ascertain that the guidelines
and procedures established to monitor Related Party
Transactions have been complied with. The Trustee will
also have the right to review such audit reports to ascertain
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IREIT Global
ANNUAL REPORT 2015
47
