Regulation 12
Circumstances to be considered for determining whether umbrella VCC is carrying on business in relation to sub-fund
of Variable Capital Companies Regulations 2020
Subsidiary LegislationIn forceProvision 12 of 14
Regulation 12
Amended byS 169/2026 wef 01/04/2026
For the purposes of section 33A(2) of the Act, the circumstances to which the Registrar may have regard in determining whether there is reasonable ground to believe that an umbrella VCC is not carrying on business in relation to a sub‑fund are —
(a)
whether the umbrella VCC has failed to respond to any correspondence sent by the Registrar relating to the sub‑fund by registered post, where a response is required; and
(b)
whether credible information has been received by the Registrar indicating that the umbrella VCC is not carrying on business in relation to the sub‑fund.