Singapore legislation
Section 114
Section 114
Regulations
(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 —
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;
the administration and regulation of registered business trusts and, in particular, the governance practices of such registered business trusts;
the administration and regulation of trustee‑managers of registered business trusts;
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;
the forms for the purposes of this Act;
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
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 —
may be of general or specific application;
may provide that a contravention of any specified provision of the regulations shall be an offence; and
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.