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← Business Trusts Act 2004

Business Trusts Act 2004 s 16

s 16 Acquisition of interest in registered business trust by trustee‑manager

16.—(1) The trustee‑manager of a registered business trust must not acquire or hold any unit or derivative of any unit in the registered business trust unless it acquires or holds the unit or derivative —(a) for not less than the consideration that would be payable if the unit or derivative of the unit were acquired by another person; and (b) subject to terms and conditions that would not disadvantage other unitholders of the registered business trust. (2) A person must not aid, abet or assist the contravention of subsection (1) by the trustee‑manager of a registered business trust. (3) Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.

Read this section in the full act → · Open Division 1 →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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