COVID-19 (Temporary Measures) Act 2020 · s 25

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s 25Modifications to Business Trusts Act

For the purpose of section 50(1) of the Business Trusts Act (Cap. 31A), an officer of the trustee‑manager is not to be treated as having no reasonable or probable ground of expectation of the trustee‑manager being able to pay a debt from the trust property of the registered business trust if the debt is incurred —

(a)

in the ordinary course of the business of the registered business trust;

(b)

during the prescribed period; and

(c)

before the passing of a resolution approving or directing the winding up, or the making of a court order directing the winding up, of the registered business trust.