Securities and Futures Act 2001 · 2020 Revised Edition · Part 7 · Disclosure of Interests
137P. Duty of holders of voting shares in trustee‑manager to notify trustee‑manager
Feedback & supportLast amended by an amending law of 2009.
Where the percentage of interest of a person in the voting shares in a trustee‑manager of a registered business trust or recognised business trust reaches, crosses or falls below 15%, 30%, 50% or 75%, the person must give written notice to the trustee‑manager within 2 business days after the person becomes aware of this.
manager
“manager”, in relation to a collective investment scheme, means a person, by whatever name called, who is responsible for managing the property of, or operating, the collective investment scheme;
A notice under subsection (1) must be in such form and must contain such information as the Authority may prescribe.
In subsection (1), the percentage of interest of a person in the voting shares in a trustee‑manager of a registered business trust or recognised business trust is ascertained by expressing the total votes attached to all the voting shares in which the person has an interest or interests immediately before or (as the case may be) immediately after the relevant time, as a percentage of the total votes attached to —
registered business trust
“registered business trust” has the meaning given by section 2 of the Business Trusts Act 2004;
all the voting shares (excluding treasury shares) in the trustee‑manager; or
where the share capital of the trustee‑manager is divided into 2 or more classes of shares, all the voting shares (excluding treasury shares) in the class concerned,and, if it is not a whole number, rounding that figure down to the next whole number.