Singapore legislation
Section 6
Section 6
Trustee‑manager to be company and not to carry on any other business
(1)
A person other than a company (not being an exempt private company) must not act as the trustee‑manager of a registered business trust.
(2)
The business of a registered business trust must be managed and operated only by the trustee‑manager of the registered business trust.
(3)
The trustee‑manager of a registered business trust must not carry on any business other than the management and operation of the registered business trust as its trustee‑manager.
(4)
Any person who contravenes subsection (1), (2) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.