s 14 Composition of board
14.—(1) The trustee‑manager of a registered business trust must ensure that the composition of its board of directors complies with such requirements as may be prescribed by the Authority.
(2) Any trustee‑manager of a registered business trust which contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.
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