3.—(1) The proposed trustee‑manager of a business trust may apply to register the business trust by lodging an application with the Authority in such form and manner as the Authority may prescribe.
(2) An application made under subsection (1) must be accompanied —(a)
by such information or record as the Authority may require; and
(b)
by a prescribed application fee which is non‑refundable and must be paid in such manner as the Authority may specify.
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