Singapore legislation
Clause 26
Clause 26
Power of Authority to issue directions to trustee-manager or temporary trustee-manager
(1)
The Authority may —
for the purpose of ensuring compliance with the provisions of this Act; or
if it thinks it necessary in the public interest for the proper administration of this Act,issue written directions, either of a general or specific nature, to the trustee-manager or temporary trustee-manager of a registered business trust.
(2)
Without prejudice to the generality of subsection (1), the Authority may issue written directions —
where the trustee-manager or temporary trustee-manager of a registered business trust is contravening, is likely to contravene or has contravened any provision of this Act, to require that person —
to comply with that provision or to cease contravention of that provision; or
to resign as trustee-manager of the registered business trust; or
with respect to any other matter which the Authority considers necessary for the proper administration of this Act,and the trustee-manager or temporary trustee-manager shall comply with any such directions.
(3)
The Authority may at any time vary, rescind or revoke any written direction issued under this section.
(4)
Any trustee-manager or temporary trustee-manager of a registered business trust which contravenes any written direction issued under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.
(5)
For the avoidance of doubt, a written direction issued under this section shall be deemed not to be subsidiary legislation.