What are my options if my application to register a BT is refused by MAS?
The trustee-manager may lodge an appeal to MAS within 30 days of the decision.
According to the Business Trusts Act 2004
The proposed trustee‑manager of any business trust who is aggrieved by the refusal of the Authority to register the business trust under subsection (2) may, within 30 days after it is notified of the decision, appeal to the Minister whose decision is final.
(6) For the purpose of determining whether subsection (2) is satisfied in relation to the business trust —
(a) references in Division 1 of Part 3 and Part 4 to a registered business trust is to be read as including a reference to the business trust mentioned in subsection (1); and (b) references in Division 1 of Part 3 and Part 4 to the trustee‑manager of the registered business trust is to be read as including a reference to the proposed trustee‑manager of the business trust.
Alternatively, a BT may be exempted from the requirement to register with MAS. Read here for more information.