Singapore legislation
Clause 142
Clause 142
Personal remedies in cases of oppression or injustice, and derivative or representative action
Sections 216 (except subsection (2)(e)), 216A and 216B of the Companies Act apply in relation to a VCC as they apply in relation to a company, subject to section 5 and the following modifications:
a reference in sections 216 and 216A of the Companies Act to a declared company under Part IX of that Act is to a declared VCC as defined in section 110;
a reference in section 216 of the Companies Act to the affairs of the company is to the affairs of the VCC;
the reference in section 216(3) of the Companies Act to the provisions of that Act relating to the winding up of a company is to Part 11;
the reference in section 216(4) of the Companies Act to a provision of that Act is to a provision of this Act (including a provision of the Companies Act applied by this Act).