Special rules on the issue and redemption of units

(1) The AIF capital management company must temporarily suspend the issue of units where a breach of the investment limits under the liquidity provisions of this Division or of the investment conditions is imminent.
(2) By way of derogation from section 98(1), first sentence, the investment conditions of real estate collective investment funds may provide that units are redeemed only on particular redemption dates, but at least every twelve months. In the cases under the first sentence, new units may be issued only on the redemption dates fixed in the investment conditions.
(3) The return of units is possible only after expiry of a minimum holding period of 24 months. The investor must demonstrate that it has continuously held at least the holding of units stated in its return declaration throughout the entire 24 months immediately preceding the requested redemption date. This may be evidenced by the custody-account-holding entity in text form as a special record of unit ownership, or established in another manner provided for in the investment conditions.
(4) Returns of units must be declared, subject to compliance with a return period of twelve months, by way of an irrevocable return declaration to the AIF capital management company. Section 227(3) applies correspondingly; the investment conditions may provide for another form of evidence that the return takes place in accordance with the first sentence.
(5) On compliance with the conditions of section 257(1), the requirements of section 30a(1) are regarded as satisfied to the effect that the capital management company has, with the liquidity management tool of extending the return period within the meaning of section 1(19), point 25a, letter c, selected a suitable liquidity management tool.
(6) The liquidity management tools selected under subsection (5) and section 30a(1) also apply to units within the meaning of section 346(1).