Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 3 · Constitution of Vcc
18. Duty to refuse registration
Feedback & supportWithout affecting the powers of the Registrar under section 9(7), the Registrar must not register a constitution of a proposed VCC under section 16 unless the Registrar is satisfied that all the requirements of this Act in respect of the 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;
Despite anything in this Act or any rule of law, the Registrar must refuse to register the constitution of a proposed VCC if the Registrar is satisfied that —
constitution
“constitution”, in relation to a VCC, means the constitution of the VCC that is registered with the Registrar under section 16(4), as may be amended from time to time;
the person named as its manager does not satisfy section 46(2);
none of its directors is either a director or qualified representative of the manager;
it 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 it to be registered.
Any person aggrieved by the Registrar’s decision under subsection (2) may, within 30 days after the date of the decision, appeal to the Minister whose decision is final.