Singapore legislation
Regulation 54
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 54
Winding up application made on just and equitable ground
In the case of a winding up application made on the ground specified in paragraph (i) of the provision that replaces section 125(1) of the IRDA because of section 130(6) of the VCC Act or paragraph 18 of the First Schedule to the VCC Act, the Court may order the proceedings to continue as if the proceedings had been begun by originating claim and may, in particular, order that —
pleadings be delivered or that the originating application or any affidavits are to stand as pleadings, with or without liberty to any of the parties to add to the pleadings or to apply for particulars of the pleadings;
any persons be added as parties to the proceedings; and
the provisions of the Rules of Court relating to summons for directions apply, with the omission of so much of those provisions as require parties to serve a notice specifying the orders and directions which they require and with any other necessary modifications, as if there had been a summons for directions in the proceedings.