Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 4 · Sub-Funds
33E. Retention of books and papers upon dissolution
Feedback & supportLast amended by an amending law of 2019.
Where a sub-fund has been dissolved under section 33A or 33B, a person who was an officer of the umbrella VCC immediately before the dissolution must ensure that all books and papers in respect of the sub-fund are retained for a period of at least 5 years after the date of the dissolution.
sub-fund
“sub-fund” means a collective investment scheme that is part of an umbrella VCC;
An officer of an umbrella VCC who fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.
officer
“officer”, in relation to a VCC or other corporation, includes —(a)any director or secretary of the corporation or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)any liquidator of the corporation (being a VCC or company) appointed in a voluntary winding up,but does not include —(d)any receiver who is not also a manager;(e)any receiver and manager appointed by the Court;(f)any liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed by the Court under Part 8A of the Companies Act 1967 (if applicable);