CITM2120 - Accreditation of community development finance institutions (CDFIs): Withdrawal of accreditation - investment in residential property

SI2003/96 Regulation 15

Where a CDFI makes a direct or indirect investment in residential property (CITM2130) from its investment fund (see CITM3010) its accreditation is withdrawn unless:

• the CDFI can demonstrate that, to the best of its knowledge and belief, it had not invested in residential property, and
• the CDFI divests itself of the investment within three months of discovery, or being informed in writing by the Department for Business and Trade (DBT), that an investment it has made is an investment in residential property.