Regulation 12
Prescribed rate of interest under section 222 of IRDA
of Variable Capital Companies (Court-Ordered Winding Up) Regulations 2026
Subsidiary LegislationIn forceProvision 12 of 57
Regulation 12
For the purposes of section 222(1) and (2)(b)(ii) of the IRDA, in an insolvent winding up of a VCC or sub‑fund, the prescribed rate of interest allowed on a debt is the rate of interest on judgment debts provided for under the Rules of Court 2021 (G.N. No. S 914/2021) for the time being in force.