Section 60K

In the application of section 22A to an instrument between sub‑funds, the disposal under that instrument of specified immovable property or part of such property is treated as a disposal of the property or part of such property for the purposes of that section.

In the application of section 22A to an instrument with a sub‑fund, the disposal under that instrument of specified immovable property or part of such property is treated as a disposal of the property or part of such property for the purposes of that section.

In the application of section 22A to an instrument (including an instrument between sub‑funds or an instrument with a sub‑fund) under which an umbrella VCC disposes of any specified immovable property or part of such property that, immediately before such disposal, was held by the VCC for the purpose of any of its sub‑funds because of an earlier instrument between sub‑funds or an earlier instrument with a sub‑fund, the reference in that section to the date or time of acquisition of the property or part of such property is to the date or time the umbrella VCC first holds the property or part for the purpose of the sub‑fund as a result of the earlier instrument, and section 22A(14) applies accordingly.

The reference to the voluntary winding up of a private company in section 22A(3)(c) includes the voluntary winding up of a VCC or a sub‑fund under the VCC Act.

The reference to the winding up of the owner of the property in section 22A(15) is, where the property is held by an umbrella VCC for the purpose of a sub‑fund, to the winding up of the VCC or the sub‑fund under the VCC Act.