Singapore legislation
Clause 47
of Variable Capital Companies (Miscellaneous Amendments) Bill
Clause 47
Amendment of section 129
Section 129 of the principal Act is amended —
(a)
by deleting the words “an approved liquidator” in subsection (1)(a) and substituting the words “a licensed insolvency practitioner”; and
(b)
by deleting subsection (6) and substituting the following subsection:“(6) In this section, a person is indebted to a sub‑fund if the debt is incurred in relation to the sub‑fund.”.