Singapore legislation
Clause 22
Clause 22
Temporary trustee-manager to take steps for appointment of new trustee-manager
(1)
The temporary trustee-manager of a registered business trust shall, within such time and in accordance with such requirements as may be prescribed by the Authority, take such steps to enable the unitholders of the registered business trust to appoint another person as the trustee-manager (not being a temporary trustee-manager) of the registered business trust.
(2)
Any temporary trustee-manager of a registered business trust which contravenes subsection (1) shall be guilty of an offence.