Singapore legislation

Clause 136

When registration must be refused

(1)

The Registrar must refuse to register a foreign corporate entity if the Registrar is not satisfied that the minimum requirements prescribed for registration have been met and that all other requirements for registration have been complied with.

(2)

The Registrar must refuse to register a foreign corporate entity if the Registrar is satisfied that —

(a)

the person named as manager of the proposed VCC does not satisfy section 46(2);

(b)

none of the directors of the proposed VCC is a qualified representative of the manager;

(c)

the proposed VCC is likely to be used for an unlawful purpose or for purposes prejudicial to public peace, welfare or good order in Singapore; or

(d)

it would be contrary to national security or the national interest for the proposed VCC to be registered.

(3)

Any person aggrieved by the Registrar’s decision under subsection (1) or (2) may, within 30 days after the date of the decision, appeal to the Minister whose decision is final.

Read in full context — Variable Capital Companies Bill →