Singapore legislation
Section 116
Section 116
Procedure and powers of inspector
Section 236 of the Companies Act 1967 applies in relation to an investigation of the affairs of a VCC under this Part as it applies in relation to an investigation of the affairs of a company under Part 9 of that Act, subject to section 5 and the following modifications:
a reference in section 236(1) and (4A) of the Companies Act 1967 to a corporation which is or has at any relevant time been deemed to be or to have been related to the company by virtue of section 6 of that Act, is to the VCC’s related corporation;
subject to paragraph (c), a reference in section 236 of the Companies Act 1967 to an officer or agent of a corporation whose affairs are being investigated is to an officer or agent of the VCC or the VCC’s related corporation;
a reference in section 236(3) of the Companies Act 1967 to an officer or agent of a corporation is to —
an officer or agent of the VCC or of the VCC’s related corporation as defined in section 110(3) or (4) (as the case may be) that is an individual;
an officer of the manager of the VCC, or of the manager of the VCC’s related corporation (being also a VCC);
an officer of the custodian of the VCC, or of the custodian of the VCC’s related corporation (if the VCC or related corporation is a non‑umbrella VCC);
an officer of the custodian of a sub‑fund of the VCC, or of the custodian of a sub‑fund of the VCC’s related corporation (if the VCC or related corporation is an umbrella VCC);
a reference in section 236(4A) and (5) of the Companies Act 1967 to a director or past director of the company or the corporation whose affairs are being investigated, is to a person who is or was —
a director of the VCC or the VCC’s related corporation;
the manager of the VCC or of the VCC’s related corporation (being also a VCC); or
the custodian of the VCC (being a non-umbrella VCC) or of the VCC’s related corporation (being also a non-umbrella VCC).