Singapore legislation
Regulation 100
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 100
Liquidator to make calls
Subregulation 1
The powers of the Court under section 153(2)(a) of the IRDA are to be exercised by the liquidator of a VCC or sub‑fund as an officer of the Court subject to the provisions of this Division.
Subregulation 2
Where the liquidator desires to make any call on the contributories of the VCC or sub‑fund or any of them, the liquidator may summon a meeting of the committee of inspection (if any) for the purpose of obtaining their sanction to the intended call.
Subregulation 3
A notice of the meeting of the committee of inspection in Form VCCWUR‑29 —
must be sent to each member of the committee of inspection in sufficient time to reach the member at least 7 days before the day appointed for holding the meeting; and
must contain a statement of the proposed amount of the call and the purpose of which the call is intended.
Subregulation 4
A notice of the intended call and the intended meeting of the committee of inspection in Form VCCWUR‑30 must be published in the Gazette and an English local daily newspaper, stating —
the time and place of the meeting of the committee of inspection; and
that each contributory may either attend the meeting and be heard, or make any communication in writing to the liquidator or members of the committee of inspection to be laid before the meeting in reference to the intended call.
Subregulation 5
Any statement or representations made either to the meeting personally or addressed in writing to the liquidator or members of the committee by any contributory must be considered at the meeting of the committee of inspection before the intended call is sanctioned.
Subregulation 6
The sanction of the committee of inspection is given by resolution passed by a majority of the members present and must be in Form VCCWUR‑31.
Subregulation 7
Where there is no committee of inspection, the liquidator must not make a call without obtaining the permission of the Court under rule 101.