Singapore legislation
Regulation 106
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 106
Power of liquidator to require delivery of property
Subregulation 1
The powers conferred on the Court by section 188(5) of the IRDA in respect of the paying, delivery, conveyance, surrender or transfer of money, property, books or papers are to be exercised by the liquidator subject to the control of the Court.
Subregulation 2
Any of the persons mentioned in paragraph (3) must, upon a notice in writing in Form VCCWUR‑39 by the liquidator of a VCC or sub‑fund and within the time required in the notice, pay, deliver, convey, surrender or transfer to or into the hands of the liquidator any money, property, books or papers which are in the person’s hands and to which the VCC or sub‑fund is prima facie entitled.
Subregulation 3
For the purposes of paragraph (2), the persons are the following:
a contributory for the time being on the list of contributories in relation to the VCC or sub‑fund being wound up;
any trustee, receiver, banker, agent or officer of the VCC being wound up or the umbrella VCC of the sub‑fund being wound up;
the manager of the VCC being wound up or the umbrella VCC of the sub‑fund being wound up;
the custodian of the VCC or sub‑fund being wound up.
Subregulation 4
The Court may, on the application of the liquidator, order the payment, delivery, conveyance, surrender or transfer of any money, property, books or papers which are in the person’s hands and to which the VCC or sub‑fund is prima facie entitled.