Business Trusts Act 2004 · 2020 Revised Edition · Part 3 · Trustee‑Manager
14. Composition of board
Feedback & supportThe trustee‑manager of a registered business trust must ensure that the composition of its board of directors complies with such requirements as may be prescribed by the Authority.
trustee‑manager
“trustee‑manager”, in relation to a registered business trust, includes a replacement trustee‑manager and temporary trustee‑manager;
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 of a day during which the offence continues after conviction.
registered business trust
“registered business trust” means a business trust that is registered by the Authority under section 4(1);