(1) The disposal of assets under section 231(1) and section 234 belonging to a collective investment fund is, subject to section 257, permissible only where 1. this is provided for in the investment conditions and 2. the consideration does not fall short of, or does not materially fall short of, the value determined under section 249(1). Where two or more of the assets named in the first sentence are disposed of to the same acquirer by a single legal transaction, the total consideration agreed may fall short of the sum of the values determined for the disposed assets by at most 5 percent, where this is not contrary to the interests of investors.
(2) The valuation under section 249(1) may be dispensed with where 1. parts of the real estate assets are disposed of at the request of an authority for public purposes, 2. parts of the real estate assets are exchanged in a land readjustment procedure, or exchanged for other properties in order to avert a land readjustment procedure, or 3. properties are additionally acquired to round off the company's own landholdings, and the consideration payable for this exceeds, by at most 5 percent, the consideration given for an equally large area of the company's own property.
(3) The encumbrance of assets under section 231(1) belonging to a collective investment fund, and the assignment and encumbrance of claims from legal relationships relating to assets under section 231(1), are, subject to section 239, permissible where 1. this is provided for in the investment conditions and compatible with proper business management, 2. the depositary consents to the aforementioned measures because it regards the terms on which the measures are to take place as being in line with the market, and 3. the AIF capital management company ensures that the encumbrance does not, in total, exceed 30 percent of the market value of the properties held in the collective investment fund.
(4) Dispositions over assets belonging to the assets of the real estate companies are, for the purposes of examining their permissibility, regarded as assets within the meaning of subsections (1) and (3).
(5) The effectiveness of a disposition is not affected by an infringement of the provisions of subsections (1) and (3).
Subdivision 6
Infrastructure Collective Investment Funds