Securities and Futures Act 2001 · 2020 Revised Edition · Part 13 · Offers of Investments
239E. Power of Authority to impose conditions or restrictions
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The Authority may recognise a business trust under section 239D(1) subject to such conditions or restrictions as it thinks fit to impose on any of the following persons for the purpose of protecting investors of the business trust:
the trustee‑manager of the trust;
a person making an offer of units or derivatives of units in the trust;
an issuer of units or derivatives of units in the trust.
Each of the persons mentioned in subsection (1) must comply with the conditions or restrictions applicable to the person.
The Authority may, at any time, by written notice to any of the persons mentioned in subsection (1), vary any condition or restriction or impose any further condition or restriction as the Authority thinks fit.
Any person who contravenes any condition or restriction applicable to the person under subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.