A Person may have the Units of a Fund admitted to an Official List of Securities only if:
(1) in the case of a Domestic Fund, it is a Public Fund; and
(2) in the case of a Foreign Fund:
(a) it is a Designated Fund from a Recognised Jurisdiction; or
(b) it is a Fund approved by the Regulator as a Fund subject to equivalent regulation as that applying to a Public Fund; and
(c) which meets the criteria of a Property Fund and 60% or more of the Fund's assets comprise Real Property.