Singapore legislation
Regulation 20
of Securities and Futures (Disclosure of Interests) Regulations 2012
Regulation 20
Powers of court with respect to non-compliance by substantial unitholder
Section 137E of the Act applies to a person who is or has been a substantial unitholder in an unlisted business trust who has failed to comply with section 135, 136 or 137 of the Act, as applied by regulation 15, as it applies to a person who is or has been a substantial unitholder in a corporation who has failed to comply with section 135, 136 or 137 of the Act, with the following modifications:
any reference to a share in the corporation is a reference to a unit in the unlisted business trust;
any reference to a substantial shareholder in the corporation is a reference to a substantial unitholder of the unlisted business trust;
save for the second reference to the corporation in section 137E(1)(d) of the Act, any reference to the corporation is a reference to the trustee-manager of the unlisted business trust;
the reference in section 137E(1)(d) of the Act to payment of any sum due from the corporation in respect of any share in which the substantial shareholder has or had an interest is a reference to payment, out of the property of the unlisted business trust, of any sum due in respect of any unit in which the substantial unitholder has or had an interest;
the reference in section 137E(1)(f) of the Act to the register of members is a reference to the register of unitholders of an unlisted business trust required to be kept under section 137C(1) of the Act, as applied by regulation 18(1);
any reference to section 137E of the Act, or a subsection of section 137E of the Act, is a reference to section 137E of the Act, or that subsection of section 137E of the Act, as applied by this regulation.