Section 123
Inspectors appointed in other countries
of Variable Capital Companies Act 2018
ActIn forceProvision 125 of 172
Section 123
(1)
Where —
(a)
under a corresponding law of another country, an inspector has been appointed to investigate the affairs of a VCC; and
(b)
the Minister is of the opinion that, in connection with that investigation, it is expedient that an investigation be made in Singapore,the Minister may by notice declare that the inspector so appointed has the same powers and duties in Singapore in relation to the investigation as if the VCC were a declared VCC.
(2)
Upon the declaration, the inspector has the powers and duties mentioned in subsection (1).