Singapore legislation

Regulation 3

Application of these Regulations

Subregulation 1

These Regulations apply to —

(a)

any VCC that is wound up under Division 3 of Part 8 of the IRDA; and

(b)

any sub‑fund that is wound up under Division 3 of Part 8 of the IRDA.

Unless otherwise stated in these Regulations —

(a)

the provisions in Division 1 of Part 2 and Parts 6, 9, 10 and 11 apply to both a creditors’ voluntary winding up and a members’ voluntary winding up;

(b)

the provisions in Division 2 of Part 2 apply only to a members’ voluntary winding up; and

(c)

the provisions in Parts 3, 4, 5, 7 and 8 apply only to a creditors’ voluntary winding up.