Singapore legislation

Schedule 2

Content of Directors’ statement

SECOND SCHEDULESection 100(7)Content of Directors’ statement

1. A statement as to whether in the opinion of the directors —

(a)

the financial statements and, where applicable, the consolidated financial statements are drawn up so as to give a true and fair view of the financial position and performance of the VCC and its sub-funds (if any) and, if applicable, of the financial position and performance of the group for the period covered by the financial statements or consolidated financial statements; and

(b)

at the date of the statement there are reasonable grounds to believe that the VCC will be able to pay its debts and the debts of its sub-funds (if any) as and when they fall due.

2. The names of the persons who are the directors in office at the date of the statement.

3. Whether at the end of the financial year to which the financial statements or, where the VCC is a parent company, consolidated financial statements relate —

(a)

there subsist arrangements to which the VCC is a party, being arrangements whose objects are, or one of whose objects is, to enable directors of the VCC to acquire benefits by means of the acquisition of shares in, or debentures of, the VCC or any other body corporate; or

(b)

there have, at any time in that year, subsisted any arrangements mentioned in sub-paragraph (a) to which the VCC was a party,and if so, a statement explaining the effect of the arrangements and giving the names of the persons who at any time in that year were directors of the VCC and held, or whose nominees held, shares or debentures acquired in pursuance of the arrangements.

4. In respect of each person who, at the end of the financial year, was a director of the VCC —

(a)

whether or not (according to the register kept by the VCC for the purposes of section 66) the person was, at the end of that year, interested in shares in, or debentures of, the VCC, a subsidiary or the holding company of the VCC, or a subsidiary of the VCC’s holding company; and

(b)

if the person was interested as mentioned in sub-paragraph (a) —

(i)

the number and amount of shares in, and debentures of, each VCC or body corporate (specifying the VCC or body corporate) in which, according to that register, the person was then interested;

(ii)

whether or not, according to that register, the person was, at the beginning of that year (or, if the person was not then a director, when the person became a director), interested in shares in, or debentures of, the VCC or any other body corporate; and

(iii)

if the person was interested as mentioned in sub-paragraph (ii), the number and amount of shares in, and debentures of, each VCC or body corporate (specifying the VCC or body corporate) in which, according to that register, the person was interested at the beginning of that year or (as the case may be) when the person became a director.

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