PN17 Business Trust

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​8.26

Under paragraph 5.3 of Practice Note 17, a PN17 Business Trust must, among others, record either a net profit or positive operating cash  flow in 2 consecutive quarterly results immediately after the completion of the implementation of the regularisation plan. If a PN17 Business Trust records positive cash flow but negative profits, would the PN17 Business Trust be considered as complying with this obligation to regularise its condition?

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​Yes. So long as any one of the requirement is fulfilled (whether it records a net profit or positive operating cash flow), the PN17 Business Trust is deemed to have complied with the requirement.