Singapore legislation
Clause 23
of Variable Capital Companies (Miscellaneous Amendments) Bill
Clause 23
Amendment of section 19
Section 19(1) of the principal Act is amended by deleting the words “a closed‑end fund” in paragraph (f) and substituting the words “an arrangement mentioned in paragraph (aa) or (b) of the definition of “closed‑end fund” in section 2(1) of the Securities and Futures Act (Cap. 289) under which units that are issued are exclusively or primarily non‑redeemable at the election of the holders of the units,”.