s 10 Duties of trustee‑manager
10.—(1) The trustee‑manager of a registered business trust must at all times act honestly and exercise reasonable diligence in the discharge of its duties as a trustee‑manager in accordance with this Act and the trust deed of the registered business trust. (2) The trustee‑manager of a registered business trust must —(a) act in the best interests of all the unitholders of the registered business trust as a whole; and (b) give priority to the interests of all the unitholders of the registered business trust as a whole over its own interests in the event of a conflict between the interests of all the unitholders as a whole and its own interests. (3) The trustee‑manager of a registered business trust must not make improper use of its position as the trustee-manager or any information acquired by virtue of its position as trustee‑manager to gain, directly or indirectly, an advantage for itself or for any other person to the detriment of the unitholders of the registered business trust.[Act 30 of 2022 wef 12/03/2024] (4) The trustee‑manager of a registered business trust must hold the trust property of the registered business trust on trust for all the unitholders of the registered business trust as a whole in accordance with the terms of the trust deed. (5) Any trustee‑manager of a registered business trust which contravenes subsection (1), (2), (3) or (4) —(a) is liable to all the unitholders of the registered business trust as a whole for any profit or financial gain directly or indirectly made by it or any of its related corporations or for any damage suffered by all the unitholders of the registered business trust as a whole as a result of the contravention; and (b) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000. (6) The Authority may, by regulations, prescribe requirements on the scope of the duties of the trustee‑manager of a registered business trust.