s 114 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.