Singapore legislation
Section 6
Section 6
Application of Companies Act 1967 to VCC, etc.
(1)
Where a provision of the Companies Act 1967 is incorporated by reference in this Act and applies to or in relation to a VCC, a person of a VCC or a matter concerning a VCC, as that Companies Act 1967 provision applies to or in relation to a corporation, a person of a corporation or a matter concerning a corporation, then (despite a VCC being a corporation within the meaning of the Companies Act 1967) the Companies Act 1967 provision is disapplied, but only to the extent of such application in this Act.
(2)
Where a provision of the Companies Act 1967 has a corresponding provision in this Act that applies to or in relation to a VCC, a person of a VCC or a matter concerning a VCC, as that Companies Act 1967 provision applies to or in relation to a corporation, a person of a corporation or a matter concerning a corporation, then (despite a VCC being a corporation within the meaning of the Companies Act 1967) the Companies Act 1967 provision is disapplied, but only to the extent of such application in the corresponding provision.
(3)
Despite anything in the Companies Act 1967 —
Division 5 of Part 10 of that Act does not apply for the purpose of the winding up of a VCC or a sub‑fund of an umbrella VCC; and
Division 6 of Part 10 of that Act does not apply to any proceedings concerning a VCC or a sub‑fund of an umbrella VCC.