What are the consequences if I use the assets of a Plan to acquire or hold common units or RDUs in violation of the foregoing restrictions?
Transfers of the common units or RDUs, or beneficial interests therein, to a person using the assets of a Plan will be void and have no force and effect and will not operate to transfer any rights to such person notwithstanding any instruction to the contrary to KKR Guernsey or any of its agents. Notwithstanding the foregoing, if any such transfer is not treated as being void for any reason (including as a result of acquisition on any exchange on which those securities are listed), the security will automatically be transferred to a charitable trust for the benefit of a charitable beneficiary and the purported holder will have no right in the common units. Transfer Restrictions Applicable to the RDUs.
Related Questions
- What are the consequences if I use the assets of a Plan to acquire or hold common units or RDUs in violation of the foregoing restrictions?
- Are there any limitations on the types of assets that a person may use to acquire common units or RDUs?
- What are the tax consequences of a disposal, assuming that the units are held as capital assets?
