Prohibition of certain trades
17.—(1)  A licensed trust company shall not —
(a)as a trustee, enter into any transaction on behalf of a trust; or
(b)as a provider of trust administration services, cause the trustee to enter into any transaction,
being a transaction to which any of the following is a party:
(i)the licensed trust company;
(ii)where the transaction is a personal transaction of a resident manager of the licensed trust company, such resident manager of the licensed trust company;
(iii)where the transaction is a personal transaction of a director of the licensed trust company, such director of the licensed trust company.
(2)  Any licensed trust company which contravenes paragraph (1) shall be guilty of an offence.