Singapore legislation
Regulation 76
of Variable Capital Companies (Winding Up and Receivership) Rules 2026
Regulation 76
Creditors entitled to vote
Subregulation 1
In the case of a meeting of the creditors held under section 134(b) of the IRDA or an adjournment of that meeting, a person is not entitled to vote as a creditor unless the person has duly filed with the Official Receiver not later than the period mentioned for that purpose in the notice summoning the meeting or adjourned meeting, a proof of the debt that the person claims to be due to the person from the VCC or sub‑fund.
Subregulation 2
In the case of a Court-directed meeting or a meeting of creditors summoned by the liquidator or an adjournment of such meeting, a person is not entitled to vote as a creditor unless —
the person has duly filed with the liquidator a proof of the debt that the person claims to be due to the person from the VCC or sub‑fund; and
the proof has been admitted wholly or in part before the date on which the meeting is held.
Subregulation 3
The value of the proof of debt of a creditor is to be calculated according to the amount of the creditor’s debt on the date of the winding up order.
Subregulation 4
Paragraph (1) does not affect the power of a chairperson under rule 80 to admit or reject, in whole or in part, a proof of debt for the purpose of voting.