Singapore legislation
Regulation 148
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 148
Application for order to vest disclaimed property
Subregulation 1
An application under section 232(2) of the IRDA for the vesting of property disclaimed under section 230 of the IRDA by a liquidator must be made within 3 months after the earlier of the following:
the day on which the applicant for the order becomes aware of the disclaimer of the property;
the day on which the applicant for the order receives a copy of the notice of disclaimer of the property served under regulation 21(1) of the Court‑Ordered Winding Up Regulations or regulation 37(1) of the Voluntary Winding Up Regulations.
Subregulation 2
The affidavit supporting the application mentioned in paragraph (1) must state —
whether the applicant is a person mentioned in section 232(2)(a) or (b) of the IRDA;
the day on which the applicant for the order became aware of the disclaimer of the property or received a copy of the notice of disclaimer of the property, whichever is applicable; and
the grounds of the application and the order sought.
Subregulation 3
The applicant must, not less than 7 days before the date fixed for the hearing of an application mentioned in paragraph (1), give the liquidator mentioned in that paragraph notice of the hearing, accompanied by a copy each of the application and the affidavit supporting the application.
Subregulation 4
On the hearing of an application mentioned in paragraph (1), the Court may give directions as to any one or more persons (in addition to the liquidator mentioned in that paragraph) to whom notice of the application and the grounds on which the application is made should be given.
Subregulation 5
The applicant must serve a sealed copy of any order under section 232(3) of the IRDA on the following persons within 7 days after the order is made:
the liquidator in question;
each person to whom notice is directed to be given under paragraph (4).