Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 12 · Transfer of Registration
136. When registration must be refused
Feedback & supportLast amended by an amending law of 2019.
The Registrar must refuse to register a foreign corporate entity if the Registrar is not satisfied that the minimum requirements prescribed for registration have been met and that all other requirements for registration have been complied with.
Registrar
“Registrar” means the Registrar of VCCs appointed under this Act, and includes any Deputy or Assistant Registrar of VCCs;
The Registrar must refuse to register a foreign corporate entity if the Registrar is satisfied that —
foreign corporate entity
“foreign corporate entity” means a body corporate that is incorporated outside Singapore, and that comprises one or more collective investment schemes;
the person named as manager of the proposed VCC does not satisfy section 46(2);
none of the directors of the proposed VCC is either a director or qualified representative of the manager;
the proposed VCC is likely to be used for an unlawful purpose or for purposes prejudicial to public peace, welfare or good order in Singapore; or
it would be contrary to national security or the national interest for the proposed VCC to be registered.
Any person aggrieved by the Registrar’s decision under subsection (1) or (2) may, within 30 days after the date of the decision, appeal to the Minister whose decision is final.