Singapore legislation

Clause 38

Duty of substantial unitholders to notify trustee-manager of registered business trust

(1)

In the case of a registered business trust all or any of which units are listed for quotation on the official list of a securities exchange, Division 4 of Part IV of the Companies Act (Cap. 50) shall apply, with such modifications and qualifications as may be necessary, to a person who is a substantial unitholder of the registered business trust as though —

(a)

references to the company to which notification should be given were references to the trustee-manager of the registered business trust;

(b)

references to shares in the company were references to units in the registered business trust;

(c)

references to substantial shareholding were references to substantial unitholding;

(d)

references to a substantial shareholder were references to a substantial unitholder; and

(e)

references to the Registrar were references to the Authority,and such person shall comply with those provisions accordingly.

(2)

If a person to whom subsection (1) applies fails to comply with any of the provisions of Division 4 of Part IV of the Companies Act, he shall be guilty of an offence and shall be liable on conviction to the same penalties as are prescribed under that Act for a failure to comply with such provision.

Read in full context — Business Trusts Bill →