Section 77

The trustee‑manager of a registered business trust may apply to the Authority in writing for an order relieving the trustee‑manager from any requirement of this Act relating to the form and content of accounts or to the form and content of the report required by section 76(11) and the Authority may make such an order either unconditionally or on condition that the trustee‑manager complies with any other requirements relating to the form and content of the accounts or report that the Authority thinks fit to impose.

The Authority may, where it considers it appropriate, make an order in respect of a specified class of registered business trusts relieving the trustee‑manager of a registered business trust in that class from compliance with any specified requirements of this Act relating to the form and content of accounts or to the form and content of the report required by section 76(11) and the order may be made either unconditionally or on condition that the trustee‑manager comply with any other requirements relating to the form and content of accounts or report that the Authority thinks fit to impose.

The Authority must not make an order under subsection (1) unless it is of the opinion that compliance with the requirements of this Act would render the accounts or report (as the case may be) misleading or inappropriate to the circumstances of the registered business trust or would impose unreasonable burdens on the trustee‑manager of the registered business trust or any officer of the trustee‑manager.

The Authority may make an order under subsection (1) which may be limited to a specific period and may, from time to time, either on application by the trustee‑manager of the registered business trust or without any such application (in which case the Authority must give to the trustee‑manager an opportunity of being heard) revoke or suspend the operation of any such order.