Suspension after termination

(1) Extraordinary circumstances within the meaning of section 98(2), first sentence, exist where the AIF capital management company has declared the termination of the management of the real estate collective investment fund.
(2) An AIF capital management company that has terminated the management of a real estate collective investment fund is, until the right of management lapses, entitled and obliged, in coordination with the depositary, to dispose of all assets of this collective investment fund on appropriate terms or, with the consent of investors under section 259, otherwise.
(3) During a suspension of redemption under section 98(2), or under subsection (1) in conjunction with section 98(2), section 239 and the ramp-up limitations named in section 244 do not apply, insofar as the disposal of assets of the collective investment fund requires that these provisions not be applied in the interests of investors.
(4) From the proceeds of disposals under subsection (2), a semi-annual instalment must be paid out to investors, in coordination with the depositary, notwithstanding section 252, insofar as 1. these proceeds are not required to ensure proper ongoing management, and 2. warranty commitments from the disposal transactions or anticipated settlement costs do not require retention within the collective investment fund.