Singapore legislation
Regulation 31
of Variable Capital Companies (Court-Ordered Winding Up) Regulations 2026
Regulation 31
Costs and expenses of preparing statement of affairs, etc.
Subregulation 1
A person who is required to make a statement of affairs or statement of concurrence must, before incurring any costs or expenses in the preparation and making of the statement —
apply to the liquidator for his or her sanction of the estimated costs and expenses; and
submit a statement of the estimated costs and expenses.
Subregulation 2
Unless the Court orders otherwise, a person is not allowed, out of the assets of the VCC or sub‑fund, any costs or expenses incurred by the person in making the statement of affairs or statement of concurrence, if the person did not obtain prior sanction of the costs and expenses.