Singapore legislation

Clause 17

of Business Trusts (Amendment) Bill

Clause 17

Amendment of section 52

Section 52 of the principal Act is amended —

(a)

by deleting the words “by post” in subsection (1) and substituting the words “, and its directors, secretaries and unitholders of the registered business trust,”;

(b)

by deleting the words “one month from” in subsections (1) and (2) and substituting in each case the words “30 days after”;

(c)

by inserting, immediately after subsection (1), the following subsection:“(1A) Without limiting subsection (1), in determining whether there is reasonable ground to believe that the trustee‑manager of a registered business trust is not managing or operating the business of the registered business trust, the Authority may have regard to any circumstances that may be prescribed.”;

(d)

by deleting the words “3 months from” in subsection (2) and substituting the words “60 days after”;

(e)

by inserting, immediately after the words “that notice, the Authority may” in subsection (2), the words “, unless cause is (in the form and manner specified in section 52B) shown,”; and

(f)

by inserting, immediately after subsection (5), the following subsection:“(6) The Authority must ensure that the substance of the notices mentioned in subsections (2) and (3) to be published in the Gazette is also published on the Authority’s website.”.

Clause 17 — Business Trusts (Amendment) Bill | laws.sg