Singapore legislation
Clause 62
Clause 62
New Fourth Schedule
The principal Act is amended by inserting, immediately after the Third Schedule as inserted by section 61, the following Schedule:“FOURTH SCHEDULESections 76(13) and 113Contents of directors’ statement
1. A statement as to whether in the opinion of the directors of the trustee‑manager —
the financial statements and, where applicable, the consolidated financial statements are drawn up so as to give a true and fair view of the financial position and performance of the registered business trust and (if applicable) of the financial position and performance of the group for the period covered by the financial statements or consolidated financial statements; and
at the date of the statement there are reasonable grounds to believe that the trustee‑manager will be able to pay the debts of the registered business trust, out of the trust property of the registered business trust, as and when they fall due.
2. Where any option has been granted by the trustee‑manager of a registered business trust, other than a parent business trust for which consolidated financial statements are required, during the period covered by the financial statements to take up unissued units in the registered business trust —
the number and class of units in respect of which the option has been granted;
the date of expiration of the option;
the basis upon which the option may be exercised; and
whether the person to whom the option has been granted has any right to participate by virtue of the option in any issue of units of any other registered business trust.
3. Where any of the particulars required by paragraph 2 have been stated in a previous directors’ statement, they may be stated by reference to that statement.
4. Where a parent business trust or any of its subsidiaries has at any time granted to a person an option to have units in the parent business trust issued to the person, or units or shares in a subsidiary issued to the person, the directors’ statement of the parent business trust must state the name of the registered business trust or subsidiary in respect of the units or shares (as the case may be) in which the option was granted and the other particulars required under paragraphs 2, 5 and 6.
5. The particulars of units issued during the period to which the statement relates by virtue of the exercise of options to take up unissued units of the registered business trust, whether granted before or during that period.
6. The number and class of unissued units of the registered business trust under option as at the end of the period to which the statement relates, the price, or method of fixing the price, of issue of those units, the date of expiration of the option and the rights (if any) of the persons to whom the options have been granted to participate by virtue of the options in any issue of units of any other registered business trust.
7. The names of the persons who are the directors of the trustee‑manager in office at the date of the statement.
8. Whether at the end of the financial year to which the financial statements or, where the registered business trust is a parent business trust, consolidated financial statements relate —
there subsist arrangements to which the trustee‑manager of the registered business trust is a party on behalf of the registered business trust, being arrangements whose objects are, or one of whose objects is, to enable directors of the trustee‑manager to acquire benefits by means of the acquisition of units in, or debentures of, the registered business trust or shares in, or debentures of, any body corporate; or
there have, at any time in that year, subsisted such arrangements as aforesaid to which the trustee‑manager of the registered business trust was a party on behalf of the registered business trust,and if so, a statement explaining the effect of the arrangements and giving the names of the persons who at any time in that year were directors of the trustee‑manager and held, or whose nominees held, units, shares or debentures acquired pursuant to the arrangements.
9. As respects each person who, at the end of the financial year, was a director of the trustee‑manager of the registered business trust —
whether or not (according to the register kept by the trustee‑manager for the purposes of section 13 relating to the obligation of a director of a trustee‑manager to notify it of his or her interests in units or derivatives of units in, or debentures of, the registered business trust) he or she was, at the end of that year, interested in such units or derivatives of units or debentures; and
if he or she was so interested, the number and amount of units or derivatives of units in, and debentures of, the registered business trust in which, according to that register, he or she was then interested and whether or not, according to that register, he or she was, at the beginning of that year (or, if he or she was not then a director, when he or she became a director), interested in units or derivatives of units in, or debentures of, the registered business trust and, if he or she was so interested, the number and amount of units or derivatives of units in, and debentures of, the registered business trust in which, according to that register, he or she was interested at the beginning of that year or (as the case may be), when he or she became a director.”.