Commentaries: Art. 126zbis

Construction, real estate and infrastructure projects are permitted only if they are by persons that are neither directly nor indirectly connected with:
1. the general partner;
2. the persons responsible for the administration and the management; or
3. the investors.
The general partner, the persons responsible for the administration and the management and closely connected natural and legal persons, and the investors in an LPCI, may acquire real estate and infrastructure assets from that partnership or assign any such assets to it if:
1. the market conformity of the purchase and selling price of the real estate assets and infrastructure assets as well as the transaction costs are confirmed by an independent valuation expert; and
2. the shareholders' meeting has approved the transaction.
As part of its audit of the institution responsible for management, the audit firm must verify compliance with the special duty of loyalty in relation to real estate investments.