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or indirect investment in residential property (CITM2130) from its investment fund (see CITM3010) its accreditation is withdrawn unless: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, Energy & Industrial Strategy (BEIS), that an investment it has made is an investment in residential property.