Singapore legislation
Regulation 2
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 2
Definitions
Subregulation 1
In these Rules —
Definition
“committee of inspection” —
in relation to a VCC, means a committee of inspection comprising or representing creditors and contributories appointed under section 151 of the IRDA as applied by section 130 of the VCC Act or a committee of inspection appointed under section 169 of the IRDA as applied by section 130 of the VCC Act; and
in relation to a sub‑fund, means a committee of inspection comprising or representing creditors and contributories appointed under section 151 of the IRDA as applied by section 33(2) of the VCC Act or a committee of inspection appointed under section 169 of the IRDA as applied by section 33(2) of the VCC Act;
Definition
“Companies Act” means the Companies Act 1967;
Definition
“Court” includes the Registrar when exercising the powers of the General Division of the High Court under the VCC Act or these Rules;
Definition
“Court‑Ordered Winding Up Regulations” means the Variable Capital Companies (Court‑Ordered Winding Up) Regulations 2026 (G.N. No. S 176/2026);
Definition
“filed” means filed in the Court;
Definition
“Form” means a form set out in the First Schedule, and a form referred to by a number (where such number may include alphanumeric characters) means the form so numbered in that Schedule;
Definition
“gazetted” means published in the Gazette;
Definition
“liquidator” includes a provisional liquidator;
Definition
“Registrar” means the Registrar of the Supreme Court and includes the Deputy Registrar or an Assistant Registrar of the Supreme Court;
Definition
“Registry” means the Registry of the Supreme Court;
Definition
“regulations” means —
the Variable Capital Companies (Receivership) Regulations 2026 (G.N. No. S 178/2026);
the Court‑Ordered Winding Up Regulations;
the Voluntary Winding Up Regulations; and
the Variable Capital Companies (Assignments of Proceeds of an Action) Regulations 2026 (G.N. No. S 175/2026);
Definition
“relevant VCC Act provision” means any of the following provisions:
Part 6 of the IRDA as applied by section 125(1) of the VCC Act;
Parts 8 and 9 of the IRDA as applied by section 33(2) or 130 of the VCC Act;
section 12 of the VCC Act as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
section 12B of the Companies Act (as applied by section 11 of the VCC Act) as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
section 14 of the Companies Act (as applied by section 13 of the VCC Act) as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
section 391 of the Companies Act (as applied by section 153 of the VCC Act) as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
section 392 of the Companies Act (as applied by section 154(1) of the VCC Act) as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
section 409A of the Companies Act (as applied by section 144(1) of the VCC Act) as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
section 409C of the Companies Act (as applied by section 163(1) of the VCC Act) as it applies in relation to a provision of Part 6, 8 or 9 of the IRDA (as applied by section 33(2), 125(1) or 130 of the VCC Act);
Definition
“Rules of Court” means the Rules of Court 2021 (G.N. No. S 914/2021) for the time being in force;
Definition
“sealed” means sealed with the seal of the Court;
Definition
“VCC Act” means the Variable Capital Companies Act 2018;
Definition
“Voluntary Winding Up Regulations” means the Variable Capital Companies (Voluntary Winding Up) Regulations 2026 (G.N. No. S 179/2026);
Definition
“working day” means any day other than a Saturday, Sunday or public holiday.
Subregulation 2
To avoid doubt, a reference in the definition of “relevant VCC Act provision” to a Part of the IRDA as applied by a provision of the VCC Act, means that Part as modified by that provision of the VCC Act.
Subregulation 3
Unless the context otherwise requires, a reference in any of these Rules to any provision of the IRDA is to that provision as applied by section 33(2) (in the case of the winding up of a sub‑fund of an umbrella VCC) or 130 (in the case of the winding up of a VCC) of the VCC Act.
Subregulation 4
Where an act is required in these Rules to be done a specified number of clear working days before or after a specified date, at least that number of working days must intervene between the day on which the act is done and that date.