Singapore legislation

Section 9

of Business Trusts Act 2004

Section 9

Use of information and advice

(1)

Subject to subsection (2), the trustee‑manager of a registered business trust may, when exercising powers or performing duties as a trustee‑manager, rely on reports, statements, financial data and other information prepared or supplied, and on professional or expert advice given, by a professional adviser or an expert in relation to matters which the trustee‑manager believes on reasonable grounds to be within the person’s professional or expert competence.

(2)

Subsection (1) applies to the trustee‑manager of a registered business trust only if the trustee‑manager —

(a)

acts in good faith;

(b)

makes proper inquiry where the need for inquiry is indicated by the circumstances; and

(c)

has no knowledge that such reliance is unwarranted.

Read in full context — Business Trusts Act 2004 →