9. Other requirements for trustee-manager
Feedback & supportThe trustee-manager of a registered business trust shall, if so required by the Authority —
obtain professional indemnity insurance for such amount and on such terms as may be specified by the Authority by notice in writing; or
provide the Authority with a performance bond, guarantee or any similar instrument (by whatever name called) for such amount and on such terms as may be specified by the Authority by notice in writing from —
its holding company (where applicable);
a bank; or
a financial institution,as may be approved in any particular case by the Authority.
Any trustee-manager of a registered business trust which contravenes paragraph (1) shall be guilty of an offence.
Subregulation 1
The trustee-manager of a registered business trust shall, if so required by the Authority —
obtain professional indemnity insurance for such amount and on such terms as may be specified by the Authority by notice in writing; or
provide the Authority with a performance bond, guarantee or any similar instrument (by whatever name called) for such amount and on such terms as may be specified by the Authority by notice in writing from —
its holding company (where applicable);
a bank; or
a financial institution,as may be approved in any particular case by the Authority.
Subregulation 2
Any trustee-manager of a registered business trust which contravenes paragraph (1) shall be guilty of an offence.