Singapore legislation

Section 165

of Variable Capital Companies Act 2018

Section 165

Regulations

(1)

The Minister may make such regulations as are necessary or expedient for carrying out the purposes and provisions of this Act (other than Part 7).

(2)

Without limiting subsection (1), the Minister may make regulations for or with respect to —

(a)

the duties and functions of the Registrar, Deputy Registrars, Assistant Registrars and other persons appointed to assist with the administration of this Act;

(b)

the lodging or registration of documents and the time and manner of submission of documents for lodging or registration;

(c)

prescribing forms for the purposes of this Act;

(d)

prescribing the fees payable for the purposes of this Act, including but not limited to fees for —

(i)

the lodgment or registration of any document required to be lodged or registered with the Registrar;

(ii)

the issue of any document by the Registrar;

(iii)

any act required to be performed by the Registrar; and

(iv)

the inspection of any document mentioned in sub‑paragraphs (i) and (ii);

(e)

prescribing the penalties payable for the late lodgment of any document;

(f)

prescribing the manner in which fees and penalties are to be paid;

(g)

the waiver, refund or remission, whether wholly or in part, of any fee or penalty;

(h)

prescribing all matters connected with or arising from the restrictions under this Act as to the reservation or registration of names of VCCs (including rules for determining when a name falls within those restrictions);

(i)

prescribing times for the lodging of any documents with the Registrar; and

(j)

all matters or things which by this Act are required or permitted to be prescribed or which are necessary or expedient to be prescribed for giving effect to this Act.

(3)

Any regulation made under this section may make provision for or in relation to a matter by applying, adopting or incorporating by reference, with or without modification, any regulation made under the Companies Act or a part of any such regulations, as in force at a particular time or from time to time, which relates to any matter with which the regulations deal.

(4)

Any regulation made under this section may provide that a contravention of a provision of the regulations shall be an offence, and may provide for penalties not exceeding a fine of $50,000.