Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 6 · Management and Administration
46. Manager
Feedback & supportA VCC must at all times have a manager that complies with subsection (2), to manage its property or operate the collective investment scheme or schemes that comprise the VCC.
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
A manager of a VCC must be —
manager
“manager”, in relation to a VCC, means the manager appointed by the VCC to manage its property or to operate the collective investment scheme or schemes that comprise the VCC;
a holder of a capital markets services licence for fund management under the Securities and Futures Act 2001;
[Deleted by Act 24 of 2025 wef 06/05/2026]
a person mentioned in section 99(1)(a), (b), (c) or (d) of the Securities and Futures Act 2001; or
such person, or a person within such class of persons, as may be prescribed.
A VCC cannot be its own manager.
To avoid doubt, the reference in subsection (2)(a) to a holder of a capital markets services licence for fund management does not include a holder of a suspended licence.
capital markets services licence
“capital markets services licence” has the meaning given by section 2(1) of the Securities and Futures Act 2001;