Business Trusts (Amendment) Regulations 2010

Status:

Published in Subsidiary Legislation Supplement
on 29 Mar 2010

No. S 174

Business Trusts Act

(Chapter 31A)

Business Trusts (Amendment) Regulations 2010

In exercise of the powers conferred by sections 40A and 114 of the Business Trusts Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Business Trusts (Amendment) Regulations 2010 and shall come into operation on 29th March 2010.

New regulation 20A

2. The Business Trusts Regulations (Rg 2) are amended by inserting, immediately before regulation 21 in Part VI, the following regulation:

“Prescribed manner of notice

20A.—(1) For the purposes of section 40A(1) of the Act, a notice given by a transferee to a dissenting unitholder of the subject trust that the transferee desires to acquire his units shall be in Form 4, and shall —

(a)	be delivered to the unitholder personally; or
(b)	be left at or sent by prepaid post to the address of the unitholder shown in the register of unitholders of the subject trust referred to in section 69(1)(a) of the Act.

(2) For the purposes of section 40A(4)(a) of the Act, a notice given by a transferee to a unitholder of the subject trust who has not assented to the arrangement or contract shall be in Form 5, and shall —

(a)	be delivered to the unitholder personally; or
(b)	be left at or sent by prepaid post to the address of the unitholder shown in the register of unitholders of the subject trust referred to in section 69(1)(a) of the Act.”.

Made this 23rd day of March 2010.

HENG SWEE KEAT

Managing Director,
Monetary Authority of Singapore.

[CMD/MCP/03/2009; AG/LLRD/SL/31A/2010/1 Vol. 1]

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