Singapore legislation

Section 18

of Business Trusts Act 2004

Section 18

Changes to take effect upon date of appointment

(1)

Despite any provision in this Division, a person named as the trustee‑manager of a registered business trust in the register which is maintained by the Authority in accordance with section 5 must remain the trustee‑manager or temporary trustee‑manager (as the case may be) until another person is appointed —

(a)

by the unitholders of the registered business trust to be the trustee‑manager of the registered business trust; or

(b)

by the court under section 21(1) to be the temporary trustee‑manager of the registered business trust,and such appointment is effective from the date stated in the resolution of the unitholders or court order as the effective date of the appointment of the trustee‑manager or temporary trustee‑manager, as the case may be.

(2)

Any purported change of the trustee‑manager of the registered business trust is ineffective unless it is made in accordance with this Division.

Read in full context — Business Trusts Act 2004 →