Section 22

Temporary trustee‑manager to take steps for appointment of new trustee‑manager

of Business Trusts Act 2004

ActIn forceProvision 22 of 115

(1)

The temporary trustee‑manager of a registered business trust must, 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.

Read in full context — Business Trusts Act 2004 →