Regulation 11
Conditions for applications for administrative restoration of VCC
Subregulation 1
For the purposes of section 344D(1) of the Companies Act 1967 (as applied by section 130B of the VCC Act), an application to the Registrar to restore to the register of VCCs the name of a VCC that was earlier struck off the register of VCCs under section 344 of the Companies Act 1967 (as applied by section 130B of the VCC Act) may only be made if all the following conditions are satisfied:
the VCC was, at the time of striking off, carrying on business or was in operation;
where any property of the VCC is vested in the Official Receiver under section 213 of the IRDA (as applied by section 130 of the VCC Act), the Official Receiver has consented in writing to the restoration of the name of the VCC to the register of VCCs;
the VCC has lodged, or has given an undertaking acceptable to the Registrar to lodge, all documents relating to the VCC or all or any of its sub‑funds, that are necessary to bring the Registrar’s records up to date;
the VCC has paid or caused to be paid, or has given an undertaking acceptable to the Registrar to pay or cause to be paid, any outstanding fee or penalty under the VCC Act that was payable by the VCC, its former directors or both, at the time of striking off.
Subregulation 2
In this regulation, “time of striking off”, in relation to a VCC, means the time at which the name of the VCC was struck off the register of VCCs under section 344 of the Companies Act 1967 (as applied by section 130B of the VCC Act).