Regulation 16
Discount
of Variable Capital Companies (Voluntary Winding Up) Regulations 2026
Subsidiary LegislationIn forceProvision 16 of 55
Regulation 16
Subregulation 1
Subject to paragraph (2), a creditor proving the creditor’s debt must deduct from the claim all trade and other discounts that would have been available to the VCC or sub‑fund but for the liquidation of the VCC or sub‑fund.
Subregulation 2
The creditor is not required to deduct any discount (not exceeding 5% on the net amount of the creditor’s claim) for immediate, early or cash settlement of the creditor’s claim.