Section 20
Contents of trust deed and contractual agreement
Any provision in a trust deed or a contractual agreement which is inconsistent with this Act is void.
(2)
The Registrar shall not grant his approval to a trust deed or a contractual agreement unless the trust deed or the contractual agreement contains the following:
(a)
the provisions relating to the appointment of trustees;
(b)
the covenants as set out in the First Schedule;
(c)
the provision on charges that may be made by the management company unless the charges do not exceed the percentages or amounts as are prescribed in the regulations;
(d)
the provision on the price at which the interests to which the trust deed or a contractual agreement relates are to be sold or purchased by the management company unless the price is consistent with the regulations; and
(e)
such other matters or things that are required to be included in the trust deed or contractual agreement as prescribed in the regulations.
(3)
Within seven days after a trust deed or contractual agreement has been approved under this section, the management company shall lodge with the Registrar the trust deed or the contractual agreement, as the case may be, or a copy of the trust deed or contractual agreement verified by statutory declaration, and the copy shall for all purposes, in the absence of proof that it is not a true copy, be regarded as an original.