Regulations Governing the Public Offering or Private Placement of REIT and REAT Beneficiary Securities by a Trustee Article 22

A trustee that makes public offering, private placement, additional public offering or additional private placement overseas for investment in domestic real estate under Article 7 of the Act, or Article 36 of the Act by mutatis mutandis application of Article 7of the Act may apply for foreign exchange settlement of its investment capital and investment income.An application for foreign exchange settlement under the preceding paragraph shall include documents verifying application approval or effective registration from the Competent Authority and the consent of the Central Bank, and be in compliance with applicable foreign exchange rules.