s 97 Requirement for trustee and deed
(1) Subject to subsection (2), every person issuing, offering for subscription or purchase, or making an invitation to subscribe for or purchase, any unit shall— (a) ensure that a trustee who has been approved by the Commission under section 98 and who is eligible to be appointed or to act as trustee under section 99 has been appointed; (b) enter into a deed that has been registered under section 102 and that meets with the requirements of section 103 or ensure that there is in force a deed that has been registered under section 102 and that meets with the requirements of section 103; and (c) comply with the requirements and provisions of this Act. (2) No person except a management company approved by the Commission under section 98 or a person authorized to act on behalf of a management company that has been approved by the Commission under section 98 shall— (a) issue; (b) offer for subscription or purchase; or (c) invite any person to subscribe for or purchase, any unit. (3) A person who contravenes subsection (1) or (2) shall be guilty of an offence.