Singapore legislation

Section 16

of Business Trusts Act 2004

Section 16

Acquisition of interest in registered business trust by trustee‑manager

(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 in full context — Business Trusts Act 2004 →