Business Trusts Act 2004 s 19

s 19 Resignation of trustee‑manager

19.—(1) The trustee‑manager of a registered business trust may resign from its position as trustee‑manager only in accordance with such requirements and in such manner as the Authority may prescribe. (2) The trustee‑manager of a registered business trust must, until its resignation in accordance with subsection (1) becomes effective, continue to observe, and be liable for the failure to observe, the duties and responsibilities assigned to it under this Act and the trust deed of the registered business trust. (3) Any trustee‑manager of a registered business trust which contravenes subsection (1) shall be guilty of an offence.

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