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Technological disruptions, etc., in meetings
91A. A meeting to which section 52R(2)(b) or (c) applies is not invalidated by reason of any technological disruption, malfunction or outage unless the court —(a) is of the opinion that the technological disruption, malfunction or outage has caused or may cause substantial injustice that cannot be remedied by any order of the court; and (b) by order declares the meeting to be invalid. [Act 17 of 2023 wef 01/07/2023]
Electronic transmission of notices of meetings
92.—(1) Where any notice of a meeting is required or permitted to be given, sent or served under this Act or under the trust deed of a registered business trust by the trustee‑manager of the registered business trust or the directors of the trustee‑manager to —(a) a unitholder of the registered business trust; (b) an officer of the trustee‑manager; or (c) the auditor of the registered business trust, that notice may be given, sent or served using electronic communications to the current address of that person. (2) For the purposes of this section, a written notice of a meeting is also treated as given or sent to, or served on, a person where —(a) the trustee‑manager of a registered business trust and that person have agreed in writing that notices of meetings required to be given to that person may instead be accessed by that person on a website; (b) the meeting is a meeting to which that agreement applies; (c) the notice is published on the website such that it is or can be made legible; (d) that person is notified, in a manner for the time being agreed between that person and the trustee‑manager for the purpose, of —(i) the publication of the notice on a website; (ii) the address of that website; and (iii) the place on that website where the notice may be accessed, and how it may be accessed; and (e) the notice continues to be published on and remains accessible to that person from that website throughout the period beginning with the giving of that notification and ending with the conclusion of the meeting. (3) For the purposes of this Act, a notice of a meeting treated in accordance with subsection (2) as given or sent to, or served on, any person is treated as so given, sent or served at the time of the notification mentioned in subsection (2)(d). (4) A notice of a meeting given for the purposes of subsection (2)(d) must specify such matters or information as may be required for a notice of that type under any other provision of this Act or the trust deed of that registered business trust. (5) Nothing in subsection (2) invalidates the proceedings of a meeting where —(a) any notice of a meeting that is required to be published and remain accessible as mentioned in paragraph (e) of that subsection is published and remains accessible for a part, but not all, of the period mentioned in that paragraph; and (b) the failure to publish and make accessible that notice throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the trustee‑manager of the registered business trust to prevent or avoid. (6) The trustee‑manager of a registered business trust may, despite any provision to the contrary in the trust deed of the registered business trust, take advantage of subsection (1), (2), (3), (4) or (5). (7) For the purposes of this section and section 93, the current address of a person or a company, in relation to any notice or document, is a number or address used for electronic communication which —(a) has been notified by the person in writing to the trustee‑manager of a registered business trust as one at which the notice or document may be sent to the person; and (b) the trustee‑manager has no reason to believe that the notice or document sent to the person at that address will not reach the person.
Electronic transmission of documents
93.—(1) Where any accounts, balance sheet, report or other document is required or permitted to be given, sent or served under this Act or under the trust deed of a registered business trust by the trustee‑manager of the registered business trust or the directors of the trustee‑manager to —(a) a unitholder of the registered business trust; (b) an officer of the trustee‑manager; or (c) the auditor of the registered business trust, that document may be given, sent or served using electronic communications to the current address of that person. (2) For the purposes of this section, any account, balance sheet, report or other document is also treated as given or sent to, or served on, a person where —(a) the trustee‑manager of a registered business trust and that person have agreed in writing to that person having access to documents on a website (instead of their being sent to that person); (b) the document is a document to which that agreement applies; (c) the document is published on the website such that it is or can be made legible; and (d) that person is notified, in a manner for the time being agreed between that person and the trustee‑manager for that purpose, of —(i) the publication of the document on that website; (ii) the address of that website; and (iii) the place on that website where the documents may be accessed, and how it may be accessed. (3) Where any provision of this Act or of the trust deed of a registered business trust requires any document to be given or sent to, or served on, a person not less than a specified number of days before a meeting, that document, if treated in accordance with subsection (2) as given or sent to, or served on, any person, is treated as given or sent to, or served on, the person not less than the specified number of days before the date of a meeting if, and only if —(a) the document is published on and remains accessible to that person from the website throughout a period beginning before the specified number of days before the date of the meeting and ending with the conclusion of the meeting; and (b) the notification given for the purpose of subsection (2)(d) is given not less than the specified number of days before the date of the meeting. (4) Nothing in subsection (3) invalidates the proceedings of a meeting where —(a) any document that is required to be published and remain accessible as mentioned in paragraph (a) of that subsection is published and remains accessible for a part, but not all, of the period mentioned in that paragraph; and (b) the failure to publish and make accessible that document throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the trustee‑manager of a registered business trust to prevent or avoid. (5) The trustee‑manager of a registered business trust may, despite any provision to the contrary in the trust deed of the registered business trust, take advantage of subsection (1), (2), (3) or (4).
Trustees Act 1967 not to apply to registered business trusts
94. The Trustees Act 1967 does not apply to a registered business trust, even though the business trust was constituted before 12 October 2004.
Non-applicability of rules relating to perpetuities, accumulations and inalienability of property to registered business trusts
95. The rules of law relating to perpetuities, accumulations and inalienability of property do not apply to any registered business trust, even though the business trust was constituted before 12 October 2004.
Opportunity to be heard
96. Where this Act provides for a person to be given an opportunity to be heard by the Authority, the Authority may prescribe the manner in which the person is to be given an opportunity to be heard.
Appointment of assistants
97.—(1) Subject to subsection (1A), the Authority may appoint any person to exercise any of its powers or perform any of its functions or duties under this Act, either generally or in any particular case, except —(a) the power of appointment conferred by this subsection; and (b) the power to make subsidiary legislation.[Act 30 of 2022 wef 12/03/2024] (1A) The Authority may appoint one or more of its officers to exercise the power under section 112(2) to grant an exemption to a particular person, or in respect of any registered business trust, matter or transaction (not being an exemption granted to a class of persons or in respect of a class of registered business trusts, matters or transactions), or to revoke any such exemption.[Act 30 of 2022 wef 12/03/2024] [Act 5 of 2025 wef 09/03/2025] (1B) An appointment under subsection (1A) must be published in the Gazette.[Act 5 of 2025 wef 09/03/2025] (2) Any person appointed by the Authority under subsection (1) is deemed to be a public servant for the purposes of the Penal Code 1871.
Codes, guidelines, etc., issued by Authority
98.—(1) The Authority may issue, in such manner as it considers appropriate, such codes, guidelines, policy statements, practice notes and no-action letters as it considers appropriate for providing guidance —(a) in furtherance of its regulatory objectives; (b) in relation to any matter relating to any of the functions of the Authority under any of the provisions of this Act; or (c) in relation to the operation of any of the provisions of this Act.[Act 30 of 2022 wef 12/03/2024] (2) The Authority may publish any such code, guideline, policy statement, practice note or no‑action letter in such manner as it thinks fit.[Act 30 of 2022 wef 12/03/2024] (3) The Authority may revoke, vary, revise or amend the whole or any part of any code, guideline, policy statement, practice note or no-action letter issued under this section in such manner as it thinks fit.[Act 30 of 2022 wef 12/03/2024] (4) Where amendments are made under subsection (3) —(a) the other provisions of this section apply, with the necessary modifications, to such amendments as they apply to the code, guideline, policy statement, practice note or no-action letter; and[Act 30 of 2022 wef 12/03/2024] (b) any reference in this Act or any other written law to the code, guideline, policy statement, practice note or no-action letter however expressed, unless the context otherwise requires, is a reference to the code, guideline, policy statement, practice note, or no-action letter as so amended.[Act 30 of 2022 wef 12/03/2024] (5) The failure of any person to comply with any of the provisions of a code, guideline, policy statement or practice note issued under this section that applies to the person does not of itself render that person liable to criminal proceedings but any such failure may, in any proceedings whether civil or criminal, be relied upon by any party to the proceedings as tending to establish or to negate any liability which is in question in the proceedings.[Act 30 of 2022 wef 12/03/2024] (6) The issue by the Authority of a no-action letter does not of itself prevent the institution of any criminal proceedings against any person for a contravention of any provision of this Act. (7) Any code, guideline, policy statement or practice note issued under this section —(a) may be of general or specific application; and (b) may specify that different provisions of the code, guideline, policy statement or practice note apply to different circumstances or provide for different cases or classes of cases.[Act 30 of 2022 wef 12/03/2024] (8) It is not necessary to publish any code, guideline, policy statement, practice note or no‑action letter issued under this section in the Gazette.[10/2013] [Act 30 of 2022 wef 12/03/2024] (9) In this section, “no‑action letter” means a letter written by the Authority to an applicant for such a letter to the effect that, if the facts are as represented by the applicant, the Authority will not institute proceedings against the applicant in respect of a particular state of affairs or particular conduct.
Translation of instruments
99.—(1) Where a person submits or provides to or lodges with the Authority any book, application, return, report, statement or other information or document under this Act which is not in the English language, the person must, at the same time or at any other time permitted by the Authority, submit or provide to or lodge with the Authority (as the case may be) an accurate translation thereof in the English language. (2) Where a person is required to make available for inspection by the public, or any section of the public, any document, report, or other book under this Act which is not in the English language, the person must, at the same time or at any other time permitted by the Authority, make available for such inspection an accurate translation thereof in the English language. (3) Where a person is required to maintain or keep any accounts, minutes or other records under this Act and the accounts, minutes or other records or any part thereof is not maintained or kept in the English language, the person must —(a) cause an accurate translation of that accounts, minutes or other records or that part of the accounts, minutes or other records in the English language to be made from time to time at intervals of not more than 7 days; and (b) maintain or keep the translation with the accounts, minutes or other records for so long as the accounts, minutes or other records are required under this Act to be maintained or kept. (4) Subsections (1), (2) and (3) are subject to any express provision to the contrary in this Act or any regulations made under this Act. (5) Any person who contravenes subsection (1), (2) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000. (6) Where a person is charged with an offence under subsection (5), it is a defence for the person to prove that —(a) the person had taken all reasonable steps to ensure that the translation that was submitted or provided to or lodged with the Authority, made available for inspection, or maintained or kept (as the case may be) was accurate in the circumstances; and (b) the person had believed on reasonable grounds that the translation was accurate. (7) In subsections (1), (2) and (3), “Act” includes any direction made by the Authority under this Act.
Right of Authority and unitholders to apply to court for order
100. Without affecting any other right of action or remedy under any written law or rule of law, the Authority or a unitholder of a registered business trust may apply to the court for an order to compel the trustee‑manager of the registered business trust to perform its duties as set out in the trust deed of the registered business trust, and the court may either make the order on any terms that it considers appropriate or dismiss the application.
Power of court to make certain orders
101.—(1) Where —(a) on the application of the Authority, it appears to the court that a person has committed an offence under this Act or has contravened any condition or restriction imposed on the person under this Act or the listing rules of an approved exchange; or (b) on the application of an approved exchange, it appears to the court that a person has contravened the listing rules of the approved exchange, the court may, without affecting any orders it would be entitled to make otherwise than under this section, make one or more of the following orders: (c) in the case of a persistent or continuing breach of this Act, any condition or restriction imposed under this Act or the listing rules of an approved exchange, an order directing a person to do or refrain from doing a specified act, including, but not limited to, directing the trustee‑manager of a registered business trust to resign as the trustee‑manager; (d) any ancillary order deemed to be desirable in consequence of the making of any of these orders; (e) an order for the reimbursement of costs of the application out of the trust property of a registered business trust to the person who made the application under this subsection.[4/2017] (2) The court may, before making an order under subsection (1), direct that notice of the application be given to any person that it thinks fit or that notice of the application be published in such manner as it thinks fit, or both. (3) Any person who, without reasonable excuse, contravenes an order made under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (4) Subsection (3) does not affect the powers of the court in relation to the punishment for contempt of court. (5) The court may, on the application of an affected person or of its own motion, rescind, vary or discharge an order made by it under this section or suspend the operation of such an order.
Court may compel compliance
102.—(1) If any person in contravention of this Act refuses or fails to permit the inspection of any register, minute book or document or to supply a copy of any register, minute book or document, the court may by order compel an immediate inspection of the register, minute book or document or order the copy to be supplied. (2) If any officer or former officer of the trustee‑manager of a registered business trust has failed or omitted to do any act, matter or thing which under this Act that officer or former officer is or was required or directed to do, the court may, on the application of the Authority, any unitholder of the registered business trust, the trustee‑manager or the liquidator of the registered business trust, by order, require that officer or former officer to do such act, matter or thing immediately or within such time as is allowed by the order and, for the purpose of complying with any such order, a former officer is deemed to have the same status, powers and duties as the former officer had at the time the act, matter or thing should have been done.
Power of Minister to appoint inspector
103.—(1) Despite anything in this Act, the Minister may appoint any person as an inspector to investigate any matter if he or she is satisfied that —(a) a prima facie case has been established that, for the protection of the public, the unitholders or the creditors of a registered business trust, it is desirable that the affairs of the registered business trust should be investigated; (b) it is in the public interest that allegations of fraud, misfeasance or other misconduct by persons who are or have been concerned with the formation or management of the registered business trust should be investigated; or (c) for any other reason, it is in the public interest that the affairs of the registered business trust should be investigated. (2) An inspector appointed under subsection (1) has all the powers conferred upon an inspector under Part 9 of the Companies Act 1967 and that Part applies, with the necessary modifications, to such investigation. (3) Any inspector appointed under subsection (1) must report the results of the inspector’s investigation to the Minister and the Minister may, if he or she thinks it in the public interest to do so, cause the report to be printed and published.
Injunctions
104.—(1) Where a person has engaged, is engaging or is likely to engage in any conduct that constitutes or would constitute a contravention of this Act or the trust deed of a registered business trust, the court may, on the application of —(a) the Authority; or (b) any person whose interests have been, are or would be affected by the conduct, grant an injunction restraining the firstmentioned person from engaging in the conduct and, if the court is of the opinion that it is desirable to do so, requiring that person to do any act or thing. (2) Where a person has refused or failed, is refusing or failing, or is likely to refuse or fail, to do an act or thing that the person is required by this Act or trust deed of a registered business trust to do, the court may, on the application of —(a) the Authority; or (b) any person whose interests have been, are or would be affected by the refusal or failure to do that act or thing, make an order requiring the firstmentioned person to do that act or thing. (3) Where an application is made to the court for an injunction under subsection (1) or an order under subsection (2), the court may, if the court is of the opinion that it is desirable to do so and before considering the application, grant an interim injunction restraining a person from engaging in conduct of the kind mentioned in subsection (1) or make an interim order requiring a person to do any act or thing, pending the determination of the application.[Act 30 of 2022 wef 12/03/2024] (4) Where the court has power under this section to grant an injunction or interim injunction or make an order or interim order restraining a person from engaging in conduct of a particular kind or requiring a person to do a particular act or thing, the court may, either in addition to or in substitution for the injunction, order, interim injunction or interim order, order that person to pay damages to any other person. (5) Where the court has granted an injunction or interim injunction or made an order or interim order under this section, the court may, on an application by any party referred to in subsection (1) or (2) or by any person affected by the injunction, order, interim injunction or interim order, rescind or vary the injunction, order, interim injunction or interim order. (6) An injunction, order, interim injunction or interim order granted or made under this section may be expressed to operate for a period specified in the injunction, order, interim injunction or interim order or until the injunction, order, interim injunction or interim order is rescinded. (7) Any person who contravenes an injunction, order, interim injunction or interim order that is granted or made by the court under this section and that is applicable to the person shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (8) Where an application is made to the court for the grant of an injunction under subsection (1), the power of the court to grant the injunction may be exercised —(a) if the court is satisfied that the person has engaged in conduct of the kind mentioned in that subsection, whether or not it appears to the court that the person intends to engage again, or to continue to engage, in conduct of that kind; or[Act 30 of 2022 wef 12/03/2024] (b) if it appears to the court that, in the event that an injunction is not granted, it is likely that the person will engage in conduct of the kind mentioned in that subsection, whether or not the person has previously engaged in conduct of that kind and whether or not there is an imminent danger of substantial damage to any person if the firstmentioned person engages in conduct of that kind.[Act 30 of 2022 wef 12/03/2024] (9) Where an application is made to the court for the making of an order under subsection (2), the power of the court to make the order may be exercised —(a) if the court is satisfied that the person has refused or failed to do the act or thing mentioned in that subsection, whether or not it appears to the court that the person intends to refuse or fail again, or to continue to refuse or fail, to do that act or thing; or (b) if it appears to the court that, in the event that an order is not made, it is likely the person will refuse or fail to do the act or thing mentioned in that subsection, whether or not the person has previously refused or failed to do that act or thing and whether or not there is an imminent danger of substantial damage to any person if the firstmentioned person refuses or fails to do that act or thing. (10) Where the Authority or any person mentioned in subsection (1)(b) or (2)(b) makes an application to the court for the grant of an injunction or interim injunction or for the making of an order or interim order under this section, the court is not to require the Authority or that person (as the case may be) or any other person, as a condition of granting the injunction, order, interim injunction or interim order, to give any undertaking as to damages.[Act 30 of 2022 wef 12/03/2024] (11) Subsection (7) does not affect the powers of the court in relation to the punishment for contempt of court.
Power of court to grant relief
105.—(1) If, in any civil proceedings for negligence, default, breach of duty or breach of trust against a person to whom this section applies, it appears to the court before which the proceedings are taken that the person is or may be liable in respect thereof but that the person has acted honestly and reasonably and that, having regard to all the circumstances of the case, including those connected with the person’s appointment, the person ought fairly to be excused for the negligence, default or breach, the court may relieve the person either wholly or partly from the person’s liability on any terms that the court thinks fit. (2) To avoid doubt and without limiting subsection (1), “liability” includes the liability of a person to whom this section applies to account for profits made or received. (3) Where any person to whom this section applies has reason to apprehend that any claim will or might be made against the person in respect of any negligence, default, breach of duty or breach of trust, the person may apply to the court for relief, and the court has the same power to relieve the person under this section as it would have had if it had been a court before which civil proceedings against the person for negligence, default, breach of duty or breach of trust had been brought. (4) This section applies to the following persons:(a) the trustee‑manager of a registered business trust; (b) officers of the trustee‑manager of a registered business trust; (c) persons employed by the trustee‑manager of a registered business trust as auditors, whether they are or are not officers of the trustee‑manager; and (d) persons who are liquidators appointed or directed by the court to carry out any duty under this Act in relation to a registered business trust and all other persons so appointed or so directed.
Jurisdiction of court
106. Despite any provision to the contrary in the Criminal Procedure Code 2010, a District Court has jurisdiction to try any offence under this Act and has power to impose the full penalty or punishment in respect of the offence.
Duty not to provide false information to Authority
107.—(1) Any person who provides the Authority with any information under this Act must use due care to ensure that the information is not false or misleading in any material particular. (2) Subsection (1) applies only to a requirement in relation to which no other provision of this Act creates an offence in connection with the provision of information. (3) Any person who —(a) signs any document lodged with the Authority; or (b) lodges with the Authority any document by electronic means using any identification or identifying code, password or other authentication method or procedure assigned to him or her by the Authority, must use due care to ensure that the document is not false or misleading in any material particular. [Act 30 of 2022 wef 12/03/2024] (4) Any person who contravenes subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both.
False and misleading statement
108. Every person who in any return, report, certificate or other document required by or for the purposes of this Act —(a) wilfully makes or authorises the making of a statement false or misleading in any material particular knowing it to be false or misleading; or (b) wilfully omits or authorises the omission of any matter or thing without which the document is misleading in a material respect,[Act 30 of 2022 wef 12/03/2024] shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both.
Offences by bodies corporate, etc.
109.—(1) Where an offence under this Act (other than an offence under Division 1 of Part 10) committed by a body corporate is proved —(a) to have been committed with the consent or connivance of an officer; or (b) to be attributable to any neglect on the officer’s part, the officer as well as the body corporate shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly. (2) Where the affairs of the body corporate are managed by its members, subsection (1) applies in relation to the acts and defaults of a member in connection with the member’s functions of management as if the member were a director of the body corporate. (3) Where an offence under this Act committed by a partnership is proved —(a) to have been committed with the consent or connivance of a partner; or (b) to be attributable to any neglect on the partner’s part, the partner as well as the partnership shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly. (4) Where an offence under this Act committed by an unincorporated association (other than a partnership) is proved —(a) to have been committed with the consent or connivance of an officer of an unincorporated association or a member of its governing body; or (b) to be attributable to any neglect on the part of such an officer or member, the officer or member as well as the unincorporated association shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly. (5) In this section —“officer” —(a) in relation to a body corporate, means any director, member of the committee of management, chief executive, manager, secretary or other similar officer of the body corporate and includes any person purporting to act in any such capacity; or (b) in relation to an unincorporated association (other than a partnership), means the president, the secretary, or any member of the committee of the unincorporated association, or any person holding a position analogous to that of president, secretary or member of a committee and includes a person purporting to act in any such capacity; “partner” includes a person purporting to act as a partner. (6) Regulations may provide for the application of any provision of this section, with such modifications as the Authority considers appropriate, to a body corporate or unincorporated association formed or recognised under the law of a territory outside Singapore.
General penalties
110. Any person guilty of an offence under this Act for which no penalty is expressly provided shall be liable on conviction to a fine not exceeding $50,000.
Composition of offences
111.—(1) The Authority may compound any offence under this Act which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine prescribed for that offence.[10/2013] (2) The Authority may compound any offence under this Act (including an offence under a provision which has been repealed) which —(a) was compoundable under this section at the time the offence was committed; but (b) has ceased to be so compoundable, by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine prescribed for that offence at the time it was committed. [10/2013] (3) On payment of the sum of money mentioned in subsection (1) or (2), no further proceedings are to be taken against that person in respect of the offence.[10/2013] (4) The Authority may make regulations to prescribe the offences which may be compounded.[10/2013] (5) All sums collected by the Authority under subsection (1) or (2) must be paid into the Consolidated Fund.[10/2013]
General exemption
112.—(1) The Authority may, by regulations, exempt any person, registered business trust, matter or transaction, or any class thereof, from all or any of the provisions of this Act, subject to such conditions or restrictions as may be prescribed. (2) The Authority may, on the application of any person, exempt the person or any registered business trust, matter or transaction from all or any of the provisions of this Act or the requirements imposed by the Authority under this Act, by written notice, if the Authority considers it appropriate to do so in the circumstances of the case.[Act 30 of 2022 wef 12/03/2024] (3) An exemption under subsection (2) —(a) may be granted subject to such conditions or restrictions as the Authority may specify by written notice;[Act 30 of 2022 wef 12/03/2024] (b) need not be published in the Gazette; and (c) may be withdrawn at any time by the Authority. (3A) The Authority may at any time add to, vary or revoke any condition or restriction imposed under this section.[Act 30 of 2022 wef 12/03/2024] (4) Any person who contravenes any condition or restriction prescribed under subsection (1) or specified by the Authority under subsection (3)(a) (including any condition or restriction added or varied under subsection (3A)) shall be guilty of an offence.[Act 30 of 2022 wef 12/03/2024]
Amendment of Schedule
113.—(1) The Authority may by order published in the Gazette, amend the Schedule. (2) The Authority may, in any order made under subsection (1), make such incidental, consequential or supplementary provision as may be necessary or expedient.
Regulations
114.—(1) The Authority may make regulations for carrying out the purposes and provisions of this Act and for the due administration of this Act. (2) Without limiting subsection (1), the Authority may make regulations for or with respect to —(a) the criteria for the registration of business trusts and the constitution, operation and management of registered business trusts including, but not limited to, the powers and duties of the trustee‑managers of registered business trusts and the rights and obligations of the unitholders of registered business trusts; (b) the administration and regulation of registered business trusts and, in particular, the governance practices of such registered business trusts; (c) the administration and regulation of trustee‑managers of registered business trusts; (ca) the regulation of the use of virtual meeting technology for meetings held in the manner described in section 52R(2)(b) or (c), including —(i) restricting or mandating the types of virtual meeting technology that may be used; (ii) restricting the means by which voting may be carried out, or mandating how voting may be carried out, using virtual meeting technology; (iii) imposing record keeping and auditing requirements in respect of the use of virtual meeting technology; (iv) imposing requirements relating to the verification or authentication of the identities of persons attending meetings using virtual meeting technology; and (v) mandating the notices and documents (including physical notices and documents) to be sent to persons attending or eligible to attend a meeting using virtual meeting technology;[Act 17 of 2023 wef 01/07/2023] (d) the particulars to be recorded in the accounts of registered business trusts and the information on the annual accounts of registered business trusts to be contained in the auditor’s reports required to be lodged under this Act; (e) the forms for the purposes of this Act; (f) the fees to be paid in respect of any matter or thing required for the purposes of this Act and the refund and remission, whether in whole or in part, of such fees; and (g) all matters and things which by this Act are required or permitted to be prescribed or which are necessary or expedient to be prescribed to give effect to this Act. (3) Except as otherwise expressly provided in this Act, the regulations —(a) may be of general or specific application; (aa) may relate to all, or any class, category or description of persons, trustee-managers or business trusts, and may make different provisions for different classes, categories or descriptions of persons, trustee-managers or business trusts, or to a particular person, trustee-manager or business trust;[Act 30 of 2022 wef 12/03/2024] (ab) may contain provisions of a saving or transitional nature;[Act 30 of 2022 wef 12/03/2024] (b) may provide that a contravention of any specified provision of the regulations shall be an offence; and (c) may provide for penalties not exceeding a fine of $50,000 or imprisonment for a term not exceeding 12 months or both for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of 10% of the maximum fine prescribed for that offence for every day or part of a day during which the offence continues after conviction.
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