Singapore legislation
Regulation 71
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 71
Costs of summoning meeting of creditors or contributories
Subregulation 1
The costs of summoning a meeting of the creditors or contributories at the instance of any person other than the liquidator must be paid by that person.
Subregulation 2
The person or persons (other than the liquidator) at whose instance a meeting of the creditors or contributories is summoned must —
at the time of summoning the meeting, make full payment of the costs; or
before the meeting is summoned, deposit with the liquidator such sum as may be required by the liquidator as security for the payment of the costs.
Subregulation 3
The costs of summoning a meeting of the creditors or contributories, including all disbursements for printing, stationery, postage and the hire of room, is to be calculated at the following rate for each creditor or contributory to whom notice is required to be sent:
$10 for the first 50 creditors or contributories;
$6 for the next 50 creditors or contributories;
$4 for any number of creditors or contributories after the first 100 creditors or contributories.
Subregulation 4
The costs must be repaid out of the assets of the VCC or sub‑fund if the Court so orders, or if the creditors or contributories (as the case may be) by resolution so direct.