sec.10Powers and duties of manager of trust regarding compliance with s 9 (1)

sec.10 Powers and duties of manager of trust regarding compliance with s 9 (1)

The manager at the material time of the trust, before or after the manager allots units to any person or registers a transfer or transmission of units, may inquire of the person registered or about to be registered as the holder whether the acquisition by that person of the units is in accordance with section 9 (1) and that person shall answer the inquiry in writing. If the manager at the material time believes or suspects that the acquisition by a person of units is or was in contravention of section 9 (1) the manager shall inquire of the person as provided in subsection (1) . Where the manager at the material time of the trust believes or suspects on reasonable grounds that an acquisition of units is or was in contravention of section 9 (1) the manager shall, in writing, notify the Minister of that fact and of the particulars on which his or her belief or suspicion is founded. (sec.10-ssec.1) The manager at the material time of the trust, before or after the manager allots units to any person or registers a transfer or transmission of units, may inquire of the person registered or about to be registered as the holder whether the acquisition by that person of the units is in accordance with section 9 (1) and that person shall answer the inquiry in writing. (sec.10-ssec.2) If the manager at the material time believes or suspects that the acquisition by a person of units is or was in contravention of section 9 (1) the manager shall inquire of the person as provided in subsection (1) . (sec.10-ssec.3) Where the manager at the material time of the trust believes or suspects on reasonable grounds that an acquisition of units is or was in contravention of section 9 (1) the manager shall, in writing, notify the Minister of that fact and of the particulars on which his or her belief or suspicion is founded.