Singapore legislation

Regulation 20

Disclosure of policies and practices

For the purposes of section 87 of the Act, the statement of policies and practices in relation to the management and governance of a registered business trust shall —

(a)

describe the measures put in place by the trustee-manager of the registered business trust to ensure that the registered business trust is managed in the interests of the unitholders of the registered business trust, and include a description of measures —

(i)

to ensure that the trust property of the registered business trust is properly accounted for and that such property is kept distinct from the property of the trustee-manager of the business trust held in its own capacity;

(ii)

to ensure adherence with the business scope of the registered business trust as set out in the trust deed of the registered business trust;

(iii)

to ensure that potential conflicts between the interests of the trustee-manager and the interests of all the unitholders of the registered business trust as a whole are appropriately managed;

(iv)

to review interested person transactions in relation to the registered business trust;

(v)

to review expense and cost allocations payable to the trustee-manager in its capacity as trustee-manager of the registered business trust out of the trust property of the registered business trust, and ensure that fees and expenses charged to the registered business trust are appropriate and in accordance with the trust deed of the registered business trust; and

(vi)

to ensure compliance with the Act and, 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, with the listing rules of the securities exchange; and

(b)

disclose the fees and expenses paid to the trustee-manager from the trust property of the registered business trust in the preceding year, with breakdowns of the fee and expense items.

Read in full context — Business Trusts Regulations →