Clause 14

The trustee-manager of a registered business trust shall ensure that the composition of its board of directors complies with such requirements as may be prescribed by the Authority.

Any trustee-manager of a registered business trust which contravenes this section 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 thereof during which the offence continues after conviction.