Singapore legislation
Section 32
Section 32
Further matters about sub-funds
(1)
A sub-fund of an umbrella VCC is not a legal person separate from the VCC, but the VCC may sue or be sued in respect of a sub‑fund and may exercise rights of set‑off (if any) as between its sub‑funds as if each sub‑fund were a legal person.
(2)
The property of a sub-fund is subject to orders of a court as it would have been if the sub‑fund were a separate legal person.