Singapore legislation
Regulation 117
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 117
Sanction of payments to committee
Subregulation 1
An order of the Court sanctioning a payment to a member of a committee of inspection for any service rendered by the member in connection with the administration of the assets of the VCC or sub‑fund is to specify the nature of the service, and the sanction is only to be given where the service performed is of a special nature.
Subregulation 2
Except with the express sanction of the Court, no remuneration may, under any circumstances, be paid to a member of a committee of inspection for services performed by the member in the discharge of the duties attaching to the member’s office as a member of such committee.