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Notice of disclaimer under section 230 of IRDA

Variable Capital Companies (Court-Ordered Winding Up) Regulations 2026

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—(1) For the purposes of section 230(1) of the IRDA, the notice to be given by a liquidator to disclaim onerous property (called in this Part the notice of disclaimer) must be in Form VCC(CWU)‑3.(2) The liquidator must state in the notice of disclaimer that the liquidator disclaims all of the VCC’s or sub‑fund’s interests in the property, and the notice must contain the following information or particulars:(a)the title “Notice of disclaimer under section 230 of the IRDA as applied by section 33(2) or 130 of the VCC Act”;(b)the name of the VCC, or the names of the sub‑fund and the umbrella VCC of that sub‑fund;(c)the registration number of that VCC, or the registration numbers of that sub‑fund and that umbrella VCC;(d)the name of the liquidator and his or her contact details;(e)a brief description of the property being disclaimed and, if the property is land, the full address of the property;(f)whether the property being disclaimed is onerous property of the kind described in section 230(2)(a) or (b)(i), (ii) or (iii) of the IRDA and how the property is such onerous property;(g)the date of the disclaimer.

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