Variable Capital Companies Act 2018 - Singapore Statutes Online

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data-bind="click: onPrintToHtmlClick">Print - HTML</button> <button type="button" class="btn btn-primary" data-bind="click: onPrintToPdfClick">Print - PDF</button> <button type="button" class="btn btn-primary" data-bind="click: onPrintToWordClick">Print - Word</button> </div> </div> <div class="print-filter"> <div id="message"></div> <div id="contents" class="filter"><p class="HeadingParagraph"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="root-." id="chkRoot" /> <label for="chkRoot">Variable Capital Companies Act 2018<br /></span></p><p class="HeadingParagraph"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="toc-." id="tocCheck" /> <label for="tocCheck">Table of Contents</label></p><p class="HeadingParagraph filter"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="al-" id="chk47954b8f-0416-4e10-a34e-44f3d1e98da6" /> <label for="chk47954b8f-0416-4e10-a34e-44f3d1e98da6"><b>Long Title</b></p><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P11-" id="PartID_576e24eb-411b-4731-afd2-6baa567c8ad1" /> <label for="PartID_576e24eb-411b-4731-afd2-6baa567c8ad1"><b>Part 1 PRELIMINARY</b></label></p><div class="showText_576e24eb-411b-4731-afd2-6baa567c8ad1" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr1-" class="form-check-input childID" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" data-id2="" id="chk14376590-b993-4cde-bd68-b206f958f1c1" /> <label for="chk14376590-b993-4cde-bd68-b206f958f1c1">1 Short title</label></div></blockquote></div><div class="showText_576e24eb-411b-4731-afd2-6baa567c8ad1" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr2-" class="form-check-input childID" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" data-id2="" id="chkf4448d2c-774e-44fc-a2a4-41e3f9e3e5b7" /> <label for="chkf4448d2c-774e-44fc-a2a4-41e3f9e3e5b7">2 General interpretation</label></div></blockquote></div><div class="showText_576e24eb-411b-4731-afd2-6baa567c8ad1" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr3-" class="form-check-input childID" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" data-id2="" id="chk575f9f82-10bc-408f-b81a-514de3f81a9b" /> <label for="chk575f9f82-10bc-408f-b81a-514de3f81a9b">3 Affairs of corporation or sub-fund</label></div></blockquote></div><div class="showText_576e24eb-411b-4731-afd2-6baa567c8ad1" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr4-" class="form-check-input childID" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" data-id2="" id="chk36122052-5126-4903-8eea-8821c60c5713" /> <label for="chk36122052-5126-4903-8eea-8821c60c5713">4 When corporations related to each other</label></div></blockquote></div><div class="showText_576e24eb-411b-4731-afd2-6baa567c8ad1" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr5-" class="form-check-input childID" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" data-id2="" id="chk54543d8b-f989-475c-bfc1-cd2b1745a7d1" /> <label for="chk54543d8b-f989-475c-bfc1-cd2b1745a7d1">5 Purpose of Act and application of Companies Act provisions in this Act</label></div></blockquote></div><div class="showText_576e24eb-411b-4731-afd2-6baa567c8ad1" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr6-" class="form-check-input childID" data-id="576e24eb-411b-4731-afd2-6baa567c8ad1" data-id2="" id="chk0eae07f5-a93b-44a7-8f3c-216a326fef87" /> <label for="chk0eae07f5-a93b-44a7-8f3c-216a326fef87">6 Application of Companies Act 1967 to VCC, etc.</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P12-" id="PartID_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" /> <label for="PartID_607f3f17-8fdb-4b12-96ae-f4582ccd5c44"><b>Part 2 ADMINISTRATION OF ACT</b></label></p><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr7-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chk4385084b-5ae7-4b88-bf51-ea19eba620c4" /> <label for="chk4385084b-5ae7-4b88-bf51-ea19eba620c4">7 Application of Part</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr8-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chkf546243d-623d-4ab5-b0f6-782a21090589" /> <label for="chkf546243d-623d-4ab5-b0f6-782a21090589">8 Administration of Act and appointment of Registrar of VCCs, etc.</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr9-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chk7519a5b7-6692-4142-bdaf-fc71b4fad849" /> <label for="chk7519a5b7-6692-4142-bdaf-fc71b4fad849">9 Registers, etc.</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr10-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chk29d78fee-ccd8-425c-aa56-1f97c736fc98" /> <label for="chk29d78fee-ccd8-425c-aa56-1f97c736fc98">10 Electronic transaction system</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr11-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chkdefaf198-e831-48ad-8eb9-b7cb1bd3d6f4" /> <label for="chkdefaf198-e831-48ad-8eb9-b7cb1bd3d6f4">11 Rectification of registers</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr12-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chk44fc3d05-839f-4508-ae9a-82285eb9e1d5" /> <label for="chk44fc3d05-839f-4508-ae9a-82285eb9e1d5">12 Enforcement of duty to make returns</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr13-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chkc08c2f38-350b-4bb5-a64c-3717f916b949" /> <label for="chkc08c2f38-350b-4bb5-a64c-3717f916b949">13 Relodgment of lost registered documents, and size, durability and legibility of documents lodged with Registrar</label></div></blockquote></div><div class="showText_607f3f17-8fdb-4b12-96ae-f4582ccd5c44" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr14-" class="form-check-input childID" data-id="607f3f17-8fdb-4b12-96ae-f4582ccd5c44" data-id2="" id="chk1807cd79-8150-4203-a695-1c2bdd894a2b" /> <label for="chk1807cd79-8150-4203-a695-1c2bdd894a2b">14 VCC auditors</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P13-" id="PartID_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" /> <label for="PartID_2f31ef71-49bd-43e4-b88e-9e8df3395d9a"><b>Part 3 CONSTITUTION OF VCC</b></label></p><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr15-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chkfcf8f037-05e2-4103-a82f-7d0893e4d458" /> <label for="chkfcf8f037-05e2-4103-a82f-7d0893e4d458">15 Object of VCC</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr16-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chkbf726b9d-38b7-4559-98da-ecd450d376a2" /> <label for="chkbf726b9d-38b7-4559-98da-ecd450d376a2">16 Registration of VCC</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr17-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk1f45c12b-1d57-46f6-8d40-3f7a6d431511" /> <label for="chk1f45c12b-1d57-46f6-8d40-3f7a6d431511">17 Members of VCC</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr17A-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk79a9082c-3be1-4cbc-b390-51d187916bbc" /> <label for="chk79a9082c-3be1-4cbc-b390-51d187916bbc">17A Minimum of one member</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr18-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk3e6dc79d-924e-4683-9a37-0427f8297187" /> <label for="chk3e6dc79d-924e-4683-9a37-0427f8297187">18 Duty to refuse registration</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr19-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chkb0d27720-6615-4aa1-9165-60e3879ac8d1" /> <label for="chkb0d27720-6615-4aa1-9165-60e3879ac8d1">19 Constitution of VCC</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr20-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk696d808b-7d55-45d2-8209-f29c32ace5af" /> <label for="chk696d808b-7d55-45d2-8209-f29c32ace5af">20 Alteration of constitution</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr21-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chkd40769e1-49f8-48c8-9151-621a9c15e21b" /> <label for="chkd40769e1-49f8-48c8-9151-621a9c15e21b">21 Name of VCC</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr22-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chka2cec4c6-285d-4f1a-8b07-95be91bb416b" /> <label for="chka2cec4c6-285d-4f1a-8b07-95be91bb416b">22 Membership of holding company</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr23-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk6e736c5d-7c3a-498d-80fb-d3920e645368" /> <label for="chk6e736c5d-7c3a-498d-80fb-d3920e645368">23 Rights attached to shares in section 22(6) and (11)</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr24-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk65fed950-a046-445d-9a09-2d2b8349fe0e" /> <label for="chk65fed950-a046-445d-9a09-2d2b8349fe0e">24 Disposal of shares in section 22(6) and (11)</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr25-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chkc2570f1a-b38a-4f7d-a8d2-22050ede005a" /> <label for="chkc2570f1a-b38a-4f7d-a8d2-22050ede005a">25 Application of other provisions of Part 3 of Companies Act 1967</label></div></blockquote></div><div class="showText_2f31ef71-49bd-43e4-b88e-9e8df3395d9a" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr26-" class="form-check-input childID" data-id="2f31ef71-49bd-43e4-b88e-9e8df3395d9a" data-id2="" id="chk0628cf45-cf18-427e-88fa-35a039ea1037" /> <label for="chk0628cf45-cf18-427e-88fa-35a039ea1037">26 Holding out as VCC</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P14-" id="PartID_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" /> <label for="PartID_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f"><b>Part 4 SUB-FUNDS</b></label></p><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr27-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chk35872085-175e-4887-8917-299ad08ef9c6" /> <label for="chk35872085-175e-4887-8917-299ad08ef9c6">27 Registration of sub-fund</label></div></blockquote></div><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr28-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chk8b31c825-57fe-4084-8c2f-b1551d7377f6" /> <label for="chk8b31c825-57fe-4084-8c2f-b1551d7377f6">28 Duty to provide certain information to Registrar</label></div></blockquote></div><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr29-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chkd2c64728-3337-4222-b89f-0a0870ea4d4f" /> <label for="chkd2c64728-3337-4222-b89f-0a0870ea4d4f">29 Segregated assets and liabilities of sub-funds</label></div></blockquote></div><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr30-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chk4d63033c-a607-4031-a8fe-89e193fc5a1b" /> <label for="chk4d63033c-a607-4031-a8fe-89e193fc5a1b">30 Disclosure of sub-fund details</label></div></blockquote></div><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr31-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chk5de123b1-9dd1-43b3-8427-7991d84da8bc" /> <label for="chk5de123b1-9dd1-43b3-8427-7991d84da8bc">31 Cross sub-fund investment</label></div></blockquote></div><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr32-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chk903a3e5b-1f53-4d70-a747-b01a97aed243" /> <label for="chk903a3e5b-1f53-4d70-a747-b01a97aed243">32 Further matters about sub-funds</label></div></blockquote></div><div class="showText_8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr33-" class="form-check-input childID" data-id="8387c8e4-61c8-42ed-a59d-b4c335a0ab3f" data-id2="" id="chk7906a908-20ab-4eba-b5e8-1f51a4a133d4" /> <label for="chk7906a908-20ab-4eba-b5e8-1f51a4a133d4">33 Winding up of sub-fund</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P15-" id="PartID_f4c55edf-20eb-4595-add2-c32cfa077d24" /> <label for="PartID_f4c55edf-20eb-4595-add2-c32cfa077d24"><b>Part 5 SHARES, DEBENTURES AND CHARGES</b></label></p><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 1  Shares</b></p></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr34-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chk9702b3d6-3619-4784-bfad-c0f1b4e91bdd" /> <label for="chk9702b3d6-3619-4784-bfad-c0f1b4e91bdd">34 Shares of VCC</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr35-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chkfd6c4edd-f1d8-4170-8224-2846d21a2bdc" /> <label for="chkfd6c4edd-f1d8-4170-8224-2846d21a2bdc">35 Power to repurchase or redeem own shares</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr36-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chkae4c876e-de6e-48d5-a555-0983e30dfdc9" /> <label for="chkae4c876e-de6e-48d5-a555-0983e30dfdc9">36 Application of provisions of Division 3 of Part 4 of Companies Act 1967</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 2  Debentures</b></p></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr37-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chk66c4bed3-d1e1-4b24-8bda-7d2026df4daa" /> <label for="chk66c4bed3-d1e1-4b24-8bda-7d2026df4daa">37 Application of provisions of Division 5 of Part 4 of Companies Act 1967</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 3  Title and transfer of shares and debentures</b></p></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr38-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chk7e5a6515-c9b7-481b-98a6-3c51732e96c7" /> <label for="chk7e5a6515-c9b7-481b-98a6-3c51732e96c7">38 Duties of VCC with respect to allotments and transfers</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr39-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chk6f9f2c09-ddef-4c2b-9af8-2daf674b4c10" /> <label for="chk6f9f2c09-ddef-4c2b-9af8-2daf674b4c10">39 Certificate is evidence of title</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr40-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chk78705e2a-4e2b-485b-b7c3-982dd8a19043" /> <label for="chk78705e2a-4e2b-485b-b7c3-982dd8a19043">40 Transfer of shares or debentures</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr41-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chkb491da46-98b4-44cd-b8ba-45030eec3aab" /> <label for="chkb491da46-98b4-44cd-b8ba-45030eec3aab">41 Application of other provisions of Division 7 of Part 4 of Companies Act 1967</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 4  Charges</b></p></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr42-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chk96fb0e92-38e9-4c33-b26f-2a3943c51845" /> <label for="chk96fb0e92-38e9-4c33-b26f-2a3943c51845">42 Registration of charges</label></div></blockquote></div><div class="showText_f4c55edf-20eb-4595-add2-c32cfa077d24" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr43-" class="form-check-input childID" data-id="f4c55edf-20eb-4595-add2-c32cfa077d24" data-id2="" id="chka8a2bd09-bfc9-400f-a82b-7ce8b28e282d" /> <label for="chka8a2bd09-bfc9-400f-a82b-7ce8b28e282d">43 Duty of VCC to register charges existing on property acquired</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P16-" id="PartID_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" /> <label for="PartID_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e"><b>Part 6 MANAGEMENT AND ADMINISTRATION</b></label></p><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 1  Preliminary</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr44-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk1c231106-a1ce-417e-a3f2-243c3dff4a34" /> <label for="chk1c231106-a1ce-417e-a3f2-243c3dff4a34">44 Interpretation of this Part</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 2  Office and name</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr45-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkdd87d979-16a5-4e3b-a9ff-69dad4576429" /> <label for="chkdd87d979-16a5-4e3b-a9ff-69dad4576429">45 Registered office, office hours, and publication of name and registration number</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 3  Managers</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr46-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk48a3852e-55ea-422c-9edb-8cd2adba07c4" /> <label for="chk48a3852e-55ea-422c-9edb-8cd2adba07c4">46 Manager</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr47-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk04552cca-f546-4425-a025-34cb9c798498" /> <label for="chk04552cca-f546-4425-a025-34cb9c798498">47 Restrictions on naming of manager in document or register</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 4  Directors and secretaries</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:30px"><b>Subdivision 1 Preliminary provisions</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr48-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chka8cfa478-3e5d-4d0e-b7c2-2fdd5310c24c" /> <label for="chka8cfa478-3e5d-4d0e-b7c2-2fdd5310c24c">48 VCC must have certain description of director, etc.</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr49-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk150256a5-3d12-46fd-a85b-dc071e5d396e" /> <label for="chk150256a5-3d12-46fd-a85b-dc071e5d396e">49 Restrictions on naming of director in document or register</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr50-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk211fffd6-0dc4-4e62-871f-9c7ffd2d8d7f" /> <label for="chk211fffd6-0dc4-4e62-871f-9c7ffd2d8d7f">50 Appointment of directors</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr51-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chka6587275-b2ec-4a8c-9a65-ec2343baf3cf" /> <label for="chka6587275-b2ec-4a8c-9a65-ec2343baf3cf">51 Validity of acts of directors and secretary</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr52-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkfd7e0678-6c21-41b5-926f-b864067da6d9" /> <label for="chkfd7e0678-6c21-41b5-926f-b864067da6d9">52 Removal of director</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:30px"><b>Subdivision 2 Qualifications and disqualifications of directors and officers</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr53-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk9f73c116-c669-4f42-a934-028e1ca07626" /> <label for="chk9f73c116-c669-4f42-a934-028e1ca07626">53 Directors must be fit and proper persons</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr54-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk43dd6eeb-9732-425f-abd9-faf29cad2bc9" /> <label for="chk43dd6eeb-9732-425f-abd9-faf29cad2bc9">54 Qualification of director</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr55-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chke11a61aa-d036-4082-aa01-54a8470bd030" /> <label for="chke11a61aa-d036-4082-aa01-54a8470bd030">55 Restriction on undischarged bankrupt</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr56-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkcf30c8f9-a095-4536-8bc7-ef93eedab95c" /> <label for="chkcf30c8f9-a095-4536-8bc7-ef93eedab95c">56 Disqualification of unfit director of insolvent VCC</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr57-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkfbf830c9-888c-452a-a886-1129f58177ac" /> <label for="chkfbf830c9-888c-452a-a886-1129f58177ac">57 Disqualification of director of VCC wound up on grounds of national security or interest</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr58-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk2121c0a8-c191-4abe-8184-926492c67cd8" /> <label for="chk2121c0a8-c191-4abe-8184-926492c67cd8">58 Disqualification of director on conviction of certain offences, etc.</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr59-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk6ff6bbee-84ee-4fd2-a1da-5072a1d7e3f4" /> <label for="chk6ff6bbee-84ee-4fd2-a1da-5072a1d7e3f4">59 Disqualification and debarment from being director or secretary in connection with default in filing documents under this Act</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr60-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkc662b631-d188-4f47-932c-0cb311d29d64" /> <label for="chkc662b631-d188-4f47-932c-0cb311d29d64">60 Disqualification for being director of not less than 3 VCCs that were struck off within 5‑year period</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr61-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkb5d38a68-d907-4a53-b71f-9b42e2acd2f8" /> <label for="chkb5d38a68-d907-4a53-b71f-9b42e2acd2f8">61 Disqualification under Limited Liability Partnerships Act 2005 and Companies Act 1967</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr61A-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkb6258745-952e-4f50-8b34-4c6cf935db8a" /> <label for="chkb6258745-952e-4f50-8b34-4c6cf935db8a">61A Debarment under Companies Act 1967</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:30px"><b>Subdivision 3 Duties and powers of directors, etc.</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr62-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkd3c2456a-d9bc-4b54-8392-261472d74d2c" /> <label for="chkd3c2456a-d9bc-4b54-8392-261472d74d2c">62 Disclosure by director of interests in transactions, property, offices, etc.</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr63-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk11e0ce23-15b6-4a87-a5d4-3f9446c2d2dd" /> <label for="chk11e0ce23-15b6-4a87-a5d4-3f9446c2d2dd">63 Duty and liability of officers, etc.</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr64-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk536d2854-803b-421f-8122-9e50c0443b9e" /> <label for="chk536d2854-803b-421f-8122-9e50c0443b9e">64 Powers of directors</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr65-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk9af3ab79-aeab-4ad5-98cf-a440b34b8462" /> <label for="chk9af3ab79-aeab-4ad5-98cf-a440b34b8462">65 Loans and quasi-loans to directors, credit transactions and related arrangements, etc., and related provisions</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr66-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk63958686-bb04-4c58-afdb-d5a38daadb4c" /> <label for="chk63958686-bb04-4c58-afdb-d5a38daadb4c">66 Register of director’s shareholdings</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr67-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkefd4f582-6df3-48df-86ff-90214a67f68a" /> <label for="chkefd4f582-6df3-48df-86ff-90214a67f68a">67 Disclosure of director’s emoluments and general duty to make disclosure</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr68-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk779c5125-cc93-4ebb-918c-abaf740bc844" /> <label for="chk779c5125-cc93-4ebb-918c-abaf740bc844">68 Payments to director for loss of office, and director’s emoluments</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:30px"><b>Subdivision 4 Secretaries</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr69-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk598d37dd-fa4a-43c1-975a-5696aa067dfb" /> <label for="chk598d37dd-fa4a-43c1-975a-5696aa067dfb">69 Secretary</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 5  Provisions applicable to officers</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr70-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkdec01cb9-edf1-49f3-984b-420fd3135e58" /> <label for="chkdec01cb9-edf1-49f3-984b-420fd3135e58">70 Officer liability, insurance and third party indemnity</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr71-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk69d7605e-2633-4a7a-9535-102a5c26043e" /> <label for="chk69d7605e-2633-4a7a-9535-102a5c26043e">71 Registers of directors, secretaries, auditors and managers</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr72-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk9b396e7f-3241-420e-957b-9e6bc564afd4" /> <label for="chk9b396e7f-3241-420e-957b-9e6bc564afd4">72 Duty to provide information</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr73-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk8f6716d6-23ac-4778-880a-7066cd44ede6" /> <label for="chk8f6716d6-23ac-4778-880a-7066cd44ede6">73 Duty to keep consents of directors, secretaries and managers</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr74-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk07475d4f-b009-442a-8616-a3e59322223b" /> <label for="chk07475d4f-b009-442a-8616-a3e59322223b">74 Self-notification in certain circumstances</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr75-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk115e9ba3-8a0d-4428-afae-6a7c9bf0fbf9" /> <label for="chk115e9ba3-8a0d-4428-afae-6a7c9bf0fbf9">75 Provision of residential address to Registrar</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr76-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkfa8cea61-d63d-4163-b11c-22c3d2ae61f3" /> <label for="chkfa8cea61-d63d-4163-b11c-22c3d2ae61f3">76 When residential address may be entered in register in place of alternate address</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 6  Meetings and proceedings</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr76A-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkd267915b-fe93-4d9e-a0dc-bddf8fde5ffa" /> <label for="chkd267915b-fe93-4d9e-a0dc-bddf8fde5ffa">76A Arrangements for meetings</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr77-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chkdf1696d9-6494-48d3-84ce-526e3adfda3b" /> <label for="chkdf1696d9-6494-48d3-84ce-526e3adfda3b">77 Annual general meeting</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr78-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk1e84fc23-4788-42ed-a373-4ba04621878e" /> <label for="chk1e84fc23-4788-42ed-a373-4ba04621878e">78 When VCC need not hold annual general meeting</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr79-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk9e5c83d3-f785-4d10-9da6-46f3cc9c7826" /> <label for="chk9e5c83d3-f785-4d10-9da6-46f3cc9c7826">79 Convening of extraordinary general meeting on requisition and calling of meetings</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr80-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk0664421d-3176-4595-9aa1-067315da0de8" /> <label for="chk0664421d-3176-4595-9aa1-067315da0de8">80 Other provisions as to meetings and resolutions</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 7  Register of members</b></p></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr81-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk060e06bd-8f14-4609-a4b0-c699af5cab74" /> <label for="chk060e06bd-8f14-4609-a4b0-c699af5cab74">81 Register of members</label></div></blockquote></div><div class="showText_fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr82-" class="form-check-input childID" data-id="fb0bd1d8-36a6-467f-a9ef-4288e4b30f9e" data-id2="" id="chk6771fa96-3ab6-41c0-bcb2-1e0541dce523" /> <label for="chk6771fa96-3ab6-41c0-bcb2-1e0541dce523">82 Inspection of register</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P17-" id="PartID_4ad38b67-191c-487c-af20-6780c1f51d98" /> <label for="PartID_4ad38b67-191c-487c-af20-6780c1f51d98"><b>Part 7 INTERNATIONAL OBLIGATIONS AND PREVENTION OF MONEY LAUNDERING, TERRORISM FINANCING AND OTHER OFFENCES</b></label></p><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 1  Directions and regulations to implement international obligations and prevent money laundering and terrorism</b></p></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr83-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk5bbf684d-0dae-49de-bf44-23802c574e4f" /> <label for="chk5bbf684d-0dae-49de-bf44-23802c574e4f">83 Directions and regulations to discharge Government’s international obligations</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr84-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chkc8ba4fa8-4a9e-4da8-805c-4c105aea276c" /> <label for="chkc8ba4fa8-4a9e-4da8-805c-4c105aea276c">84 Requirements for prevention of money laundering and terrorism financing</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr85-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk0ab4d470-02fa-4b69-af47-b3dccc89af8f" /> <label for="chk0ab4d470-02fa-4b69-af47-b3dccc89af8f">85 Inspection of VCCs for compliance with directions and regulations</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 2  Assistance to foreign authorities and domestic authorities</b></p></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr86-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk12c3954a-bc20-4bd0-9561-d71602bc20e0" /> <label for="chk12c3954a-bc20-4bd0-9561-d71602bc20e0">86 Interpretation of this Division</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr87-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chkfc4e83d0-e915-4519-a476-2173a3e4f14c" /> <label for="chkfc4e83d0-e915-4519-a476-2173a3e4f14c">87 Purpose of Division</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr88-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk735d3f18-561d-4079-9fe9-bd9085c31e1d" /> <label for="chk735d3f18-561d-4079-9fe9-bd9085c31e1d">88 Assistance to AML/CFT authorities</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr89-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk858bab95-123e-4f37-8634-ccda6d375a26" /> <label for="chk858bab95-123e-4f37-8634-ccda6d375a26">89 Assistance to domestic authorities</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr90-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk10a83d15-1c41-4bfb-aa9b-330458c1a3e2" /> <label for="chk10a83d15-1c41-4bfb-aa9b-330458c1a3e2">90 Other provisions applicable to sections 88 and 89</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr91-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk7d39d5e2-d8c0-4f48-89c4-7aacaba52018" /> <label for="chk7d39d5e2-d8c0-4f48-89c4-7aacaba52018">91 Inspection by AML/CFT authority</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 3  Miscellaneous provisions</b></p></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr92-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chkc7549a7c-5077-4ed3-9375-91033fe84d88" /> <label for="chkc7549a7c-5077-4ed3-9375-91033fe84d88">92 Corporate offenders and unincorporated associations</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr93-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk4901f6a3-aec0-4f06-9897-ec9514902593" /> <label for="chk4901f6a3-aec0-4f06-9897-ec9514902593">93 Composition of offences</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr94-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk0f1c8ce1-ad2e-4c30-bd12-1ca9e4db587a" /> <label for="chk0f1c8ce1-ad2e-4c30-bd12-1ca9e4db587a">94 MAS officers, etc., treated as public officers</label></div></blockquote></div><div class="showText_4ad38b67-191c-487c-af20-6780c1f51d98" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr95-" class="form-check-input childID" data-id="4ad38b67-191c-487c-af20-6780c1f51d98" data-id2="" id="chk687b012d-d034-4aa8-90e7-a9b14f99b241" /> <label for="chk687b012d-d034-4aa8-90e7-a9b14f99b241">95 Power to exempt and to make regulations for further modifications</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="1bc53832-b803-4013-8988-a5998503e30b" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P18-" id="PartID_1bc53832-b803-4013-8988-a5998503e30b" /> <label for="PartID_1bc53832-b803-4013-8988-a5998503e30b"><b>Part 8 ANNUAL RETURN, FINANCIAL STATEMENTS AND AUDIT</b></label></p><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 1  Interpretation</b></p></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr96-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chk617e316c-4212-4fab-a3fc-0a31963714db" /> <label for="chk617e316c-4212-4fab-a3fc-0a31963714db">96 Interpretation of this Part</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 2  Annual return</b></p></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr97-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chk6d2c169a-db38-445a-80ee-6a5e2cf2118e" /> <label for="chk6d2c169a-db38-445a-80ee-6a5e2cf2118e">97 Annual return</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 3  Financial statements</b></p></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr98-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkb0b219f0-313f-4a9e-877a-ac45db350d34" /> <label for="chkb0b219f0-313f-4a9e-877a-ac45db350d34">98 Financial year</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr99-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkfc7fe46f-db8f-40a7-8354-42eed49cbc30" /> <label for="chkfc7fe46f-db8f-40a7-8354-42eed49cbc30">99 Accounting records and systems of control</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr100-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkd043893b-e56a-44cb-b3f8-d86bbed92e3d" /> <label for="chkd043893b-e56a-44cb-b3f8-d86bbed92e3d">100 Financial statements and consolidated financial statements</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr101-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkb7d81ef6-4cc6-42c2-8e71-56b69044220f" /> <label for="chkb7d81ef6-4cc6-42c2-8e71-56b69044220f">101 Retention of documents laid before VCC at annual general meeting</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr102-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chk23e68a0c-e126-426a-9cf3-d64cb4fa481d" /> <label for="chk23e68a0c-e126-426a-9cf3-d64cb4fa481d">102 When directors need not lay financial statements before VCC</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr103-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chk167f8294-cc3e-4702-8376-c7b984d99664" /> <label for="chk167f8294-cc3e-4702-8376-c7b984d99664">103 Relief from requirements as to form and content of financial statements, consolidated financial statements and directors’ statement</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr104-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chk9187fee1-e8d0-4700-944d-b5c2727f1f0c" /> <label for="chk9187fee1-e8d0-4700-944d-b5c2727f1f0c">104 Defective financial statements, or consolidated financial statements and balance sheet</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr105-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkad30a7f8-6eb1-42df-81d0-93a202257726" /> <label for="chkad30a7f8-6eb1-42df-81d0-93a202257726">105 Members of VCC entitled to financial statements, etc.</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr106-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkdcb6a9b2-3305-4a34-a96c-c14221e64a80" /> <label for="chkdcb6a9b2-3305-4a34-a96c-c14221e64a80">106 Penalty</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 4  Audit</b></p></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr107-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkcf538d01-c51a-4e9e-bc24-3b59ce8cac2b" /> <label for="chkcf538d01-c51a-4e9e-bc24-3b59ce8cac2b">107 Appointment and remuneration of auditors</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr108-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chkf53d8103-96f5-4e72-9674-b517e56c8b65" /> <label for="chkf53d8103-96f5-4e72-9674-b517e56c8b65">108 Resignation of auditor of VCC</label></div></blockquote></div><div class="showText_1bc53832-b803-4013-8988-a5998503e30b" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr109-" class="form-check-input childID" data-id="1bc53832-b803-4013-8988-a5998503e30b" data-id2="" id="chk7734e813-4b35-4131-aebd-287f04ca4258" /> <label for="chk7734e813-4b35-4131-aebd-287f04ca4258">109 Other provisions concerning auditors</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P19-" id="PartID_77595f80-2a9c-4f0e-9386-5e29887ccdfc" /> <label for="PartID_77595f80-2a9c-4f0e-9386-5e29887ccdfc"><b>Part 9 INVESTIGATIONS</b></label></p><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr110-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk17b98d0c-3169-4441-a122-5acacc22a442" /> <label for="chk17b98d0c-3169-4441-a122-5acacc22a442">110 Interpretation of this Part</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr111-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk8f1e1002-e674-4b4c-bf72-4ab1ad4c58fb" /> <label for="chk8f1e1002-e674-4b4c-bf72-4ab1ad4c58fb">111 Power to declare VCC</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr112-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chkc7ee8488-b220-4f99-9441-16a6b7ce9519" /> <label for="chkc7ee8488-b220-4f99-9441-16a6b7ce9519">112 Appointment and powers of inspector</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr113-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk8c165604-3ec9-46c4-b2a8-fcfa26838a03" /> <label for="chk8c165604-3ec9-46c4-b2a8-fcfa26838a03">113 Investigation of affairs of VCC by inspectors at direction of Minister</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr114-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chkc9724fb8-802f-44d4-914a-65da29f8d5b4" /> <label for="chkc9724fb8-802f-44d4-914a-65da29f8d5b4">114 Reports of inspectors</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr115-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk148d4d69-1431-42a2-a168-1021618bceef" /> <label for="chk148d4d69-1431-42a2-a168-1021618bceef">115 Investigation of affairs of related corporation</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr116-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk20055212-a863-454d-91e1-042555294bd2" /> <label for="chk20055212-a863-454d-91e1-042555294bd2">116 Procedure and powers of inspector</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr117-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk8f7e2065-6725-40f3-8829-7827d1c868da" /> <label for="chk8f7e2065-6725-40f3-8829-7827d1c868da">117 Costs of investigations</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr118-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chkfaa02b02-bf58-4e4d-9313-c13bd08bb849" /> <label for="chkfaa02b02-bf58-4e4d-9313-c13bd08bb849">118 Suspension of actions and proceedings in respect of VCC</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr119-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk175e9c49-f133-4220-b5f1-15e4bd236bce" /> <label for="chk175e9c49-f133-4220-b5f1-15e4bd236bce">119 Winding up of VCC</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr120-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chkde9c2441-fec4-44f5-9772-aec4218b3b9e" /> <label for="chkde9c2441-fec4-44f5-9772-aec4218b3b9e">120 Appointment and powers of inspectors to investigate ownership of VCC</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr121-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk5fa8aa50-412c-44e7-b8af-5595c27c4414" /> <label for="chk5fa8aa50-412c-44e7-b8af-5595c27c4414">121 Power to require information as to persons interested in shares or debentures</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr122-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk18a9a0fb-3034-49e1-b2cc-fcc7e4f67c5f" /> <label for="chk18a9a0fb-3034-49e1-b2cc-fcc7e4f67c5f">122 Power to impose restrictions on shares or debentures</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr123-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk86eb54f9-2485-4425-8165-e702d32ca501" /> <label for="chk86eb54f9-2485-4425-8165-e702d32ca501">123 Inspectors appointed in other countries</label></div></blockquote></div><div class="showText_77595f80-2a9c-4f0e-9386-5e29887ccdfc" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr124-" class="form-check-input childID" data-id="77595f80-2a9c-4f0e-9386-5e29887ccdfc" data-id2="" id="chk72f83d6f-3b29-4349-b8aa-8a90b1e0b4cf" /> <label for="chk72f83d6f-3b29-4349-b8aa-8a90b1e0b4cf">124 Miscellaneous provisions</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="0efed39c-aa24-4c5a-a885-82993a302ed9" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P110-" id="PartID_0efed39c-aa24-4c5a-a885-82993a302ed9" /> <label for="PartID_0efed39c-aa24-4c5a-a885-82993a302ed9"><b>Part 10 RECEIVERS AND MANAGERS</b></label></p><div class="showText_0efed39c-aa24-4c5a-a885-82993a302ed9" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr125-" class="form-check-input childID" data-id="0efed39c-aa24-4c5a-a885-82993a302ed9" data-id2="" id="chk38edc0d1-e50e-480d-83b1-7e4e590d640a" /> <label for="chk38edc0d1-e50e-480d-83b1-7e4e590d640a">125 Application of Part 8 of Companies Act 1967</label></div></blockquote></div><div class="showText_0efed39c-aa24-4c5a-a885-82993a302ed9" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr126-" class="form-check-input childID" data-id="0efed39c-aa24-4c5a-a885-82993a302ed9" data-id2="" id="chkb7421353-9b66-453c-818c-6e92053c213b" /> <label for="chkb7421353-9b66-453c-818c-6e92053c213b">126 Statement that receiver appointed</label></div></blockquote></div><div class="showText_0efed39c-aa24-4c5a-a885-82993a302ed9" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr127-" class="form-check-input childID" data-id="0efed39c-aa24-4c5a-a885-82993a302ed9" data-id2="" id="chk6d8c00b8-425e-4378-9a8c-06bfe4d8549d" /> <label for="chk6d8c00b8-425e-4378-9a8c-06bfe4d8549d">127 Payment of certain debts out of assets subject to floating charge in priority to claims under charge</label></div></blockquote></div><div class="showText_0efed39c-aa24-4c5a-a885-82993a302ed9" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr128-" class="form-check-input childID" data-id="0efed39c-aa24-4c5a-a885-82993a302ed9" data-id2="" id="chke5cf1a53-4c50-4ea1-8ed8-5b5f564811d3" /> <label for="chke5cf1a53-4c50-4ea1-8ed8-5b5f564811d3">128 Enforcement of duty of receiver, etc., to make returns</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="9f1bb669-2632-470d-9958-9a57c17648e3" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P111-" id="PartID_9f1bb669-2632-470d-9958-9a57c17648e3" /> <label for="PartID_9f1bb669-2632-470d-9958-9a57c17648e3"><b>Part 11 WINDING UP</b></label></p><div class="showText_9f1bb669-2632-470d-9958-9a57c17648e3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr129-" class="form-check-input childID" data-id="9f1bb669-2632-470d-9958-9a57c17648e3" data-id2="" id="chk37b08a03-8634-43e7-a222-b58020250403" /> <label for="chk37b08a03-8634-43e7-a222-b58020250403">129 Disqualification of liquidators</label></div></blockquote></div><div class="showText_9f1bb669-2632-470d-9958-9a57c17648e3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr130-" class="form-check-input childID" data-id="9f1bb669-2632-470d-9958-9a57c17648e3" data-id2="" id="chk9218a1f1-0b4e-46ba-a082-80e524813e4d" /> <label for="chk9218a1f1-0b4e-46ba-a082-80e524813e4d">130 Application of Part 10 of Companies Act 1967</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P112-" id="PartID_436f8452-5a8f-43e7-ae07-f08e73a1391e" /> <label for="PartID_436f8452-5a8f-43e7-ae07-f08e73a1391e"><b>Part 12 TRANSFER OF REGISTRATION</b></label></p><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr131-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk08fbd624-c4cf-4900-81fb-868d8d46c7b7" /> <label for="chk08fbd624-c4cf-4900-81fb-868d8d46c7b7">131 Foreign corporate entities to which this Part applies</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr132-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk43afcf23-9190-46de-ac4c-73efdfcfda0e" /> <label for="chk43afcf23-9190-46de-ac4c-73efdfcfda0e">132 Interpretation of this Part</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr133-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chkb27862be-4524-4b1b-a77b-7ef98d3fe7ba" /> <label for="chkb27862be-4524-4b1b-a77b-7ef98d3fe7ba">133 Name of VCCs to be registered under this Part</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr134-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk2e5be7ca-5aeb-499a-9962-7b37243ff67d" /> <label for="chk2e5be7ca-5aeb-499a-9962-7b37243ff67d">134 Application for registration</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr135-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk35a9540a-f95e-494c-9dde-b06d398aa3fe" /> <label for="chk35a9540a-f95e-494c-9dde-b06d398aa3fe">135 Registration</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr136-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk96c8712d-081c-47f4-9fb4-4903987e5fc4" /> <label for="chk96c8712d-081c-47f4-9fb4-4903987e5fc4">136 When registration must be refused</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr137-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk7a7d30a5-86af-4183-966f-99c3e4c02836" /> <label for="chk7a7d30a5-86af-4183-966f-99c3e4c02836">137 Effect of registration</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr138-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk4651dec5-df4f-4644-9083-5d3ed8115260" /> <label for="chk4651dec5-df4f-4644-9083-5d3ed8115260">138 Revocation of registration</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr139-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk5d762351-9dcc-417e-9ac1-9b14c118ff3a" /> <label for="chk5d762351-9dcc-417e-9ac1-9b14c118ff3a">139 Duty of VCC to register pre-existing charges</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr140-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chk19a1ec7c-a706-47e2-a8a9-5d18658bb3e3" /> <label for="chk19a1ec7c-a706-47e2-a8a9-5d18658bb3e3">140 Duties of VCC with respect to issue of certificates</label></div></blockquote></div><div class="showText_436f8452-5a8f-43e7-ae07-f08e73a1391e" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr141-" class="form-check-input childID" data-id="436f8452-5a8f-43e7-ae07-f08e73a1391e" data-id2="" id="chka57b95e9-e39b-44c0-99d5-e3b0c1a4ae96" /> <label for="chka57b95e9-e39b-44c0-99d5-e3b0c1a4ae96">141 Regulations</label></div></blockquote></div><p class="HeadingParagraph filter"><a style="font-size:1.1em" class="displayText" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" href="#"><span class="fa fa-caret-right"></span></a><input class="form-check-input" type="checkbox" name="item" value="P113-" id="PartID_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" /> <label for="PartID_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3"><b>Part 13 GENERAL PROVISIONS</b></label></p><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 1  Remedies of members and debenture holders for oppression, etc.</b></p></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr142-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chka7e530f3-3ff6-4dd2-9be9-fb9efef4ab69" /> <label for="chka7e530f3-3ff6-4dd2-9be9-fb9efef4ab69">142 Personal remedies in cases of oppression or injustice, and derivative or representative action</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 2  Offences</b></p></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr143-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkcb0673f5-78ca-4319-b48f-c4134c29e7c7" /> <label for="chkcb0673f5-78ca-4319-b48f-c4134c29e7c7">143 Application</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr144-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk98f0876a-9fe4-4b80-afdb-6b4492bc518f" /> <label for="chk98f0876a-9fe4-4b80-afdb-6b4492bc518f">144 Application of provisions of Division 2 of Part 12 of Companies Act 1967, etc.</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr145-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkb9041872-cd0e-451d-ab67-bc9536c5bd0a" /> <label for="chkb9041872-cd0e-451d-ab67-bc9536c5bd0a">145 False statements or reports</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr146-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk0406d2dc-2f37-4e17-b26e-149239b69c6c" /> <label for="chk0406d2dc-2f37-4e17-b26e-149239b69c6c">146 Obtaining payment, etc., to VCC by false promise of officer or agent of VCC</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr147-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkbe67dd95-9822-44ad-ba65-988e191993d9" /> <label for="chkbe67dd95-9822-44ad-ba65-988e191993d9">147 Default penalties</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr148-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk34d45a94-65ea-4b4a-b80d-011a34a01f1a" /> <label for="chk34d45a94-65ea-4b4a-b80d-011a34a01f1a">148 Composition of offences</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><p class="HeadingParagraph filter" style="text-indent:20px"><b>Division 3  Other general provisions</b></p></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr149-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk34e4854b-0295-4ea7-9efe-cdbece484447" /> <label for="chk34e4854b-0295-4ea7-9efe-cdbece484447">149 Service of documents</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr150-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk6e931603-62ea-44b4-98e4-9a0b8586e408" /> <label for="chk6e931603-62ea-44b4-98e4-9a0b8586e408">150 Electronic transmission of documents</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr151-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk98c7af87-124e-4e85-8959-88d1dd870edc" /> <label for="chk98c7af87-124e-4e85-8959-88d1dd870edc">151 Costs of proceedings and security for costs</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr152-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkac076c01-2bde-4216-859e-a0bda299640f" /> <label for="chkac076c01-2bde-4216-859e-a0bda299640f">152 Disposal of shares of shareholder whose whereabouts are unknown</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr153-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk482f4c6c-0b53-49a9-8d5d-5192d65b43ef" /> <label for="chk482f4c6c-0b53-49a9-8d5d-5192d65b43ef">153 Power to grant relief</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr154-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkd691d468-4a42-4e2c-a8cd-eaaf66240fb2" /> <label for="chkd691d468-4a42-4e2c-a8cd-eaaf66240fb2">154 Irregularities</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr154A-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk0ba9a6e3-87f3-4a30-ba66-8ce16f677cdd" /> <label for="chk0ba9a6e3-87f3-4a30-ba66-8ce16f677cdd">154A Technological disruptions, etc., in meetings</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr155-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkefa7ba6a-0b41-489d-9eb6-e1e58a8072d7" /> <label for="chkefa7ba6a-0b41-489d-9eb6-e1e58a8072d7">155 Inspection of books of VCC and related provisions</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr156-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk1a507198-1ed0-4c3e-8601-b1c68be00b23" /> <label for="chk1a507198-1ed0-4c3e-8601-b1c68be00b23">156 Production and inspection of books or papers where offence suspected</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr157-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkb8beb8de-a6a2-4a9b-b792-01e7501c6121" /> <label for="chkb8beb8de-a6a2-4a9b-b792-01e7501c6121">157 VCC records</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr158-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkef404bc4-0322-4c22-9797-961bf000abad" /> <label for="chkef404bc4-0322-4c22-9797-961bf000abad">158 Translations of instruments, etc.</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr159-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkd3c05810-68cd-40c8-81e3-dfd3a0e081d7" /> <label for="chkd3c05810-68cd-40c8-81e3-dfd3a0e081d7">159 Certificate of incorporation is conclusive evidence</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr160-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkca2a77e3-6b5f-43ea-bd3f-db4732f003e6" /> <label for="chkca2a77e3-6b5f-43ea-bd3f-db4732f003e6">160 Court may compel compliance</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr161-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk67f4899f-b760-4f22-9bc2-1c90d8cb7942" /> <label for="chk67f4899f-b760-4f22-9bc2-1c90d8cb7942">161 Disclosure of information by Registrar to MAS</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr162-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk3bc41051-1a10-4ce8-98cc-591792c1df71" /> <label for="chk3bc41051-1a10-4ce8-98cc-591792c1df71">162 Disclosure of information by MAS to ACRA or Registrar</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr163-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkebfc8673-1dc0-446b-8bad-e7cbcfbba432" /> <label for="chkebfc8673-1dc0-446b-8bad-e7cbcfbba432">163 Appeals against act or decision of Registrar</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr164-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk05f00f3e-9491-40f7-b300-9aad79dcc890" /> <label for="chk05f00f3e-9491-40f7-b300-9aad79dcc890">164 Rules of Court</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr165-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk51cc9ed8-41c9-4c5b-be03-6537b0fd1224" /> <label for="chk51cc9ed8-41c9-4c5b-be03-6537b0fd1224">165 Regulations</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr166-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chkfd8ff5d4-1612-4d04-89f7-4a4b460b8a20" /> <label for="chkfd8ff5d4-1612-4d04-89f7-4a4b460b8a20">166 Amendment of Schedules</label></div></blockquote></div><div class="showText_1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" style="display:none"><blockquote class="TocParagraph" style="margin: 0px 0px 2pt 15pt;text-indent:20pt"><div><input type="checkbox" name="item" value="pr167-" class="form-check-input childID" data-id="1168b599-59fd-4f0b-9f65-e7b8ebc7dbb3" data-id2="" id="chk2d0224c8-77df-44de-ba86-1f9e26cba7c1" /> <label for="chk2d0224c8-77df-44de-ba86-1f9e26cba7c1">167 Consequential amendments to other Acts</label></div></blockquote></div><p class="HeadingParagraph filter"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="Sc1-" id="chk7d93ac0b-393b-48c7-b563-0f2f90df9514" /> <label for="chk7d93ac0b-393b-48c7-b563-0f2f90df9514"><b>FIRST SCHEDULE Modifications of Part 10 of Companies Act 1967 in its application to winding up of a sub-fund of an umbrella VCC</b></label></p><p class="HeadingParagraph filter"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="Sc2-" id="chkca127c38-a0dc-4aed-a522-9aa82b59338a" /> <label for="chkca127c38-a0dc-4aed-a522-9aa82b59338a"><b>SECOND SCHEDULE Content of Directors’ statement</b></label></p><p class="HeadingParagraph filter"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="Sc3-" id="chkac7b6e40-f533-470b-9a9c-2c78302f888b" /> <label for="chkac7b6e40-f533-470b-9a9c-2c78302f888b"><b>THIRD SCHEDULE Provisions for Application of section 162</b></label></p><p class="HeadingParagraph filter"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="xv-" id="chk02c31d34-abd2-440d-b059-2c96a309149c" /> <label for="chk02c31d34-abd2-440d-b059-2c96a309149c"><b>Legislative History</b></label></p><p class="HeadingParagraph filter"><span class="whitespace"> </span><input class="form-check-input" type="checkbox" name="item" value="xv-ta-oc2-" id="chkLEGISLATION_ABBREVIATIONS" /> <label for="chkLEGISLATION_ABBREVIATIONS"><b>Abbreviations</b></label></p><p 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hidden-sm" aria-label="Close Table of Content" title="Close Table of Content"> <span class="fa fa-2x fa-close"></span> </a> <div class="legis-title"> <span>Variable Capital Companies Act 2018</span> <a href="/Act/VCCA2018?ViewType=Pdf&_=20241205121917" title="Download PDF (719.0 KB)" aria-label="Download PDF (719.0 KB)" data-size=" (719.0 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </div> <div class="status-row"> <div class="status-caption"> Status:<br />  </div> <div class="status-value"> Current version<br />as at 28 Mar 2025 <span class="fa fa-info-circle show-status-info"></span> <div id="statusInfo" style="display: none"><div class="status-info">Please check the legislation timeline to ensure that you are viewing the correct legislation version. 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</span> </div> <a href="/Act/VCCA2018?ValidDate=20240731" class="timeline-popover" title="Published Date" data-date="11 May 2022" aria-label="Published Date" rel=""> <div class="status informal"> <span class="dot_selected"></span> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=515ff924-f54b-4f60-9f76-73ad641a6103&SourceValidDate=20240731&SourceTransactionDate=20220511&SourcePublishDate=20220511&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=18&SourceYear=2022" target="_blank">Act 18 of 2022</a> </div> </div> </li> <li class="mobile " data-id="8aee5cd7-edab-4297-a4cc-83f7fcfe1d9f"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20230701?DocDate=20220511&ValidDate=20230701&ViewType=Pdf&_=20241205123826" aria-label="Download PDF (722.7 KB)" title="Download PDF (722.7 KB)" data-size=" (722.7 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20230701?DocDate=20220511&ValidDate=20230701" rel="nofollow"> 01 Jul 2023 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20230701?DocDate=20220511&ValidDate=20230701" class="timeline-popover" title="Published Date" data-date="08 Jun 2023" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=da0751c1-6543-4608-8d78-c615f7a23608&SourceValidDate=20230701&SourceTransactionDate=20230608&SourcePublishDate=20230608&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=17&SourceYear=2023" target="_blank">Act 17 of 2023</a> </div> </div> </li> <li class="mobile " data-id="30077194-bc80-4555-b3dc-10fc2d243bc8"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20230428?DocDate=20230608&ValidDate=20230428&ViewType=Pdf&_=20250320111300" aria-label="Download PDF (705.8 KB)" title="Download PDF (705.8 KB)" data-size=" (705.8 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20230428?DocDate=20230608&ValidDate=20230428" rel="nofollow"> 28 Apr 2023 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20230428?DocDate=20230608&ValidDate=20230428" class="timeline-popover" title="Published Date" data-date="11 May 2022" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=515ff924-f54b-4f60-9f76-73ad641a6103&SourceValidDate=20230428&SourceTransactionDate=20220511&SourcePublishDate=20220511&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=18&SourceYear=2022" target="_blank">Act 18 of 2022</a> </div> </div> </li> <li class="mobile " data-id="326f08e1-ff33-40cc-ae45-5bad3d402679"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20230401?DocDate=20220511&ValidDate=20230401&ViewType=Pdf&_=20241205115807" aria-label="Download PDF (701.7 KB)" title="Download PDF (701.7 KB)" data-size=" (701.7 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20230401?DocDate=20220511&ValidDate=20230401" rel="nofollow"> 01 Apr 2023 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20230401?DocDate=20220511&ValidDate=20230401" class="timeline-popover" title="Published Date" data-date="03 Feb 2023" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=ba6bdf8e-0fc4-42a7-a946-bd19a2def6e7&SourceValidDate=20230401&SourceTransactionDate=20230203&SourcePublishDate=20230203&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=36&SourceYear=2022" target="_blank">Act 36 of 2022</a> </div> </div> </li> <li class="mobile " data-id="05e501b4-34a0-4a8d-bf95-c028568ab526"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20220401?DocDate=20230203&ValidDate=20220401&ViewType=Pdf&_=20241205123638" aria-label="Download PDF (701.6 KB)" title="Download PDF (701.6 KB)" data-size=" (701.6 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20220401?DocDate=20230203&ValidDate=20220401" rel="nofollow"> 01 Apr 2022 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20220401?DocDate=20230203&ValidDate=20220401" class="timeline-popover" title="Published Date" data-date="11 Oct 2021" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=d8ed4107-a7a8-44e2-9ed5-2b5a9ef853fd&SourceValidDate=20220401&SourceTransactionDate=20211011&SourcePublishDate=20211011&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=25&SourceYear=2021" target="_blank">Act 25 of 2021</a> </div> </div> </li> <li class="mobile " data-id="c333b4e0-e310-4667-834f-5a80bf0e4d1c"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20211231?DocDate=20211011&ValidDate=20211231&ViewType=Pdf&_=20241205123639" aria-label="Download PDF (702.3 KB)" title="Download PDF (702.3 KB)" data-size=" (702.3 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20211231?DocDate=20211011&ValidDate=20211231" rel="nofollow"> 31 Dec 2021 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20211231?DocDate=20211011&ValidDate=20211231" class="timeline-popover" title="Published Date" data-date="31 Dec 2021" aria-label="Published Date" rel="nofollow"> <div class="status"> </div> </a> <div class="group_status"> <div> <span> 2020 RevEd </span> </div> </div> </li> <li class="mobile " data-id="f5fd502b-cb0d-4e3d-9368-f4e66bb45ee2"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20210102?DocDate=20211231&ValidDate=20210102&ViewType=Pdf&_=20250308185616" aria-label="Download PDF (592.3 KB)" title="Download PDF (592.3 KB)" data-size=" (592.3 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20210102?DocDate=20211231&ValidDate=20210102" rel="nofollow"> 02 Jan 2021 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20210102?DocDate=20211231&ValidDate=20210102" class="timeline-popover" title="Published Date" data-date="12 Dec 2019" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=c6a50fcb-3c45-45ba-b287-05398e02e20b&SourceValidDate=20210102&SourceTransactionDate=20191212&SourcePublishDate=20191212&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=40&SourceYear=2019" target="_blank">Act 40 of 2019</a> </div> </div> </li> <li class="mobile " data-id="2b48b770-cafa-4cee-827b-35732d69969a"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20200115?DocDate=20191212&ValidDate=20200115&ViewType=Pdf&_=20250308203335" aria-label="Download PDF (707.0 KB)" title="Download PDF (707.0 KB)" data-size=" (707.0 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20200115?DocDate=20191212&ValidDate=20200115" rel="nofollow"> 15 Jan 2020 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20200115?DocDate=20191212&ValidDate=20200115" class="timeline-popover" title="Published Date" data-date="04 Oct 2019" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=7bb6ecff-e5bd-4b5b-91c1-79ed4b533441&SourceValidDate=20200115&SourceTransactionDate=20191004&SourcePublishDate=20191004&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=28&SourceYear=2019" target="_blank">Act 28 of 2019</a> </div> </div> </li> <li class="mobile " data-id="09706813-1dd2-475b-85fc-cd68c39010e8"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20200114?DocDate=20191004&ValidDate=20200114&ViewType=Pdf&_=20250308213403" aria-label="Download PDF (587.7 KB)" title="Download PDF (587.7 KB)" data-size=" (587.7 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> <a href="/Act/VCCA2018/Historical/20200114?DocDate=20191004&ValidDate=20200114" rel="nofollow"> 14 Jan 2020 </a> </span> </div> <a href="/Act/VCCA2018/Historical/20200114?DocDate=20191004&ValidDate=20200114" class="timeline-popover" title="Published Date" data-date="12 Nov 2018" aria-label="Published Date" rel="nofollow"> <div class="status"> </div> </a> <div class="group_status"> <div> <span> Act 44 of 2018 </span> </div> </div> </li> </ul> </div> <div id="mobileProvTimeline" class="timeline" style="display: none" data-bind="visible: Show.MobileProvTimeline"> <ul class="left"> <li class="mobile"> <div class="title_top">   </div> <div class="title"><span class="right-arrow"> </span></div> </li> </ul> </div> </div> </div> <div class="toc-panel" data-bind="visible: Show.Toc" style="display: none;" id="tocPanel"> <div class="toc-title" id="tocTitle"> Table of Contents <a href="#" data-bind="click: HideMobileToc" class="right-close-btn visible-xs visible-sm"> <span class="fa fa-2x fa-close"></span> </a> </div> <div id="tocNav" class="scrollable-panel"> <nav id="toc" class="navbar navbar-light bg-white flex-column align-items-stretch toc"> <a class="nav-link" href="#top"> <b> Variable Capital Companies Act 2018 <br /> </b> </a> <a class="nav-link" href="#al-"> <b>Long Title</b> </a> <a class="nav-link" href="#P11-"> <b>Part 1 PRELIMINARY</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr1-" data-part="P11-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr1-" name="item" id="tocItem5" title="1" />  </div> <span> 1 Short title </span> </a> <a class="nav-link " href="#pr2-" data-part="P11-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr2-" name="item" id="tocItem6" title="2" />  </div> <span> 2 General interpretation </span> </a> <a class="nav-link " href="#pr3-" data-part="P11-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr3-" name="item" id="tocItem7" title="3" />  </div> <span> 3 Affairs of corporation or sub-fund </span> </a> <a class="nav-link " href="#pr4-" data-part="P11-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr4-" name="item" id="tocItem8" title="4" />  </div> <span> 4 When corporations related to each other </span> </a> <a class="nav-link " href="#pr5-" data-part="P11-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr5-" name="item" id="tocItem9" title="5" />  </div> <span> 5 Purpose of Act and application of Companies Act provisions in this Act </span> </a> <a class="nav-link " href="#pr6-" data-part="P11-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr6-" name="item" id="tocItem10" title="6" />  </div> <span> 6 Application of Companies Act 1967 to VCC, etc. </span> </a> </nav> <a class="nav-link" href="#P12-"> <b>Part 2 ADMINISTRATION OF ACT</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr7-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr7-" name="item" id="tocItem12" title="7" />  </div> <span> 7 Application of Part </span> </a> <a class="nav-link " href="#pr8-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr8-" name="item" id="tocItem13" title="8" />  </div> <span> 8 Administration of Act and appointment of Registrar of VCCs, etc. </span> </a> <a class="nav-link " href="#pr9-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr9-" name="item" id="tocItem14" title="9" />  </div> <span> 9 Registers, etc. </span> </a> <a class="nav-link " href="#pr10-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr10-" name="item" id="tocItem15" title="10" />  </div> <span> 10 Electronic transaction system </span> </a> <a class="nav-link " href="#pr11-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr11-" name="item" id="tocItem16" title="11" />  </div> <span> 11 Rectification of registers </span> </a> <a class="nav-link " href="#pr12-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr12-" name="item" id="tocItem17" title="12" />  </div> <span> 12 Enforcement of duty to make returns </span> </a> <a class="nav-link " href="#pr13-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr13-" name="item" id="tocItem18" title="13" />  </div> <span> 13 Relodgment of lost registered documents, and size, durability and legibility of documents lodged with Registrar </span> </a> <a class="nav-link " href="#pr14-" data-part="P12-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr14-" name="item" id="tocItem19" title="14" />  </div> <span> 14 VCC auditors </span> </a> </nav> <a class="nav-link" href="#P13-"> <b>Part 3 CONSTITUTION OF VCC</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr15-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr15-" name="item" id="tocItem21" title="15" />  </div> <span> 15 Object of VCC </span> </a> <a class="nav-link " href="#pr16-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr16-" name="item" id="tocItem22" title="16" />  </div> <span> 16 Registration of VCC </span> </a> <a class="nav-link " href="#pr17-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr17-" name="item" id="tocItem23" title="17" />  </div> <span> 17 Members of VCC </span> </a> <a class="nav-link " href="#pr17A-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr17A-" name="item" id="tocItem24" title="17A" />  </div> <span> 17A Minimum of one member </span> </a> <a class="nav-link " href="#pr18-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr18-" name="item" id="tocItem25" title="18" />  </div> <span> 18 Duty to refuse registration </span> </a> <a class="nav-link " href="#pr19-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr19-" name="item" id="tocItem26" title="19" />  </div> <span> 19 Constitution of VCC </span> </a> <a class="nav-link " href="#pr20-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr20-" name="item" id="tocItem27" title="20" />  </div> <span> 20 Alteration of constitution </span> </a> <a class="nav-link " href="#pr21-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr21-" name="item" id="tocItem28" title="21" />  </div> <span> 21 Name of VCC </span> </a> <a class="nav-link " href="#pr22-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr22-" name="item" id="tocItem29" title="22" />  </div> <span> 22 Membership of holding company </span> </a> <a class="nav-link " href="#pr23-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr23-" name="item" id="tocItem30" title="23" />  </div> <span> 23 Rights attached to shares in section 22(6) and (11) </span> </a> <a class="nav-link " href="#pr24-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr24-" name="item" id="tocItem31" title="24" />  </div> <span> 24 Disposal of shares in section 22(6) and (11) </span> </a> <a class="nav-link " href="#pr25-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr25-" name="item" id="tocItem32" title="25" />  </div> <span> 25 Application of other provisions of Part 3 of Companies Act 1967 </span> </a> <a class="nav-link " href="#pr26-" data-part="P13-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr26-" name="item" id="tocItem33" title="26" />  </div> <span> 26 Holding out as VCC </span> </a> </nav> <a class="nav-link" href="#P14-"> <b>Part 4 SUB-FUNDS</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr27-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr27-" name="item" id="tocItem35" title="27" />  </div> <span> 27 Registration of sub-fund </span> </a> <a class="nav-link " href="#pr28-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr28-" name="item" id="tocItem36" title="28" />  </div> <span> 28 Duty to provide certain information to Registrar </span> </a> <a class="nav-link " href="#pr29-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr29-" name="item" id="tocItem37" title="29" />  </div> <span> 29 Segregated assets and liabilities of sub-funds </span> </a> <a class="nav-link " href="#pr30-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr30-" name="item" id="tocItem38" title="30" />  </div> <span> 30 Disclosure of sub-fund details </span> </a> <a class="nav-link " href="#pr31-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr31-" name="item" id="tocItem39" title="31" />  </div> <span> 31 Cross sub-fund investment </span> </a> <a class="nav-link " href="#pr32-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr32-" name="item" id="tocItem40" title="32" />  </div> <span> 32 Further matters about sub-funds </span> </a> <a class="nav-link " href="#pr33-" data-part="P14-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr33-" name="item" id="tocItem41" title="33" />  </div> <span> 33 Winding up of sub-fund </span> </a> </nav> <a class="nav-link" href="#P15-"> <b>Part 5 SHARES, DEBENTURES AND CHARGES</b> </a> <a class="nav-link" href="#P15-P21-"> <b>Division 1  Shares</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr34-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr34-" name="item" id="tocItem44" title="34" />  </div> <span> 34 Shares of VCC </span> </a> <a class="nav-link " href="#pr35-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr35-" name="item" id="tocItem45" title="35" />  </div> <span> 35 Power to repurchase or redeem own shares </span> </a> <a class="nav-link " href="#pr36-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr36-" name="item" id="tocItem46" title="36" />  </div> <span> 36 Application of provisions of Division 3 of Part 4 of Companies Act 1967 </span> </a> </nav> <a class="nav-link" href="#P15-P22-"> <b>Division 2  Debentures</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr37-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr37-" name="item" id="tocItem48" title="37" />  </div> <span> 37 Application of provisions of Division 5 of Part 4 of Companies Act 1967 </span> </a> </nav> <a class="nav-link" href="#P15-P23-"> <b>Division 3  Title and transfer of shares and debentures</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr38-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr38-" name="item" id="tocItem50" title="38" />  </div> <span> 38 Duties of VCC with respect to allotments and transfers </span> </a> <a class="nav-link " href="#pr39-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr39-" name="item" id="tocItem51" title="39" />  </div> <span> 39 Certificate is evidence of title </span> </a> <a class="nav-link " href="#pr40-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr40-" name="item" id="tocItem52" title="40" />  </div> <span> 40 Transfer of shares or debentures </span> </a> <a class="nav-link " href="#pr41-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr41-" name="item" id="tocItem53" title="41" />  </div> <span> 41 Application of other provisions of Division 7 of Part 4 of Companies Act 1967 </span> </a> </nav> <a class="nav-link" href="#P15-P24-"> <b>Division 4  Charges</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr42-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr42-" name="item" id="tocItem55" title="42" />  </div> <span> 42 Registration of charges </span> </a> <a class="nav-link " href="#pr43-" data-part="P15-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr43-" name="item" id="tocItem56" title="43" />  </div> <span> 43 Duty of VCC to register charges existing on property acquired </span> </a> </nav> <a class="nav-link" href="#P16-"> <b>Part 6 MANAGEMENT AND ADMINISTRATION</b> </a> <a class="nav-link" href="#P16-P21-"> <b>Division 1  Preliminary</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr44-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr44-" name="item" id="tocItem59" title="44" />  </div> <span> 44 Interpretation of this Part </span> </a> </nav> <a class="nav-link" href="#P16-P22-"> <b>Division 2  Office and name</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr45-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr45-" name="item" id="tocItem61" title="45" />  </div> <span> 45 Registered office, office hours, and publication of name and registration number </span> </a> </nav> <a class="nav-link" href="#P16-P23-"> <b>Division 3  Managers</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr46-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr46-" name="item" id="tocItem63" title="46" />  </div> <span> 46 Manager </span> </a> <a class="nav-link " href="#pr47-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr47-" name="item" id="tocItem64" title="47" />  </div> <span> 47 Restrictions on naming of manager in document or register </span> </a> </nav> <a class="nav-link" href="#P16-P24-"> <b>Division 4  Directors and secretaries</b> </a> <a class="nav-link" href="#P16-P24-P31-"> <b>Subdivision 1 Preliminary provisions</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr48-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr48-" name="item" id="tocItem67" title="48" />  </div> <span> 48 VCC must have certain description of director, etc. </span> </a> <a class="nav-link " href="#pr49-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr49-" name="item" id="tocItem68" title="49" />  </div> <span> 49 Restrictions on naming of director in document or register </span> </a> <a class="nav-link " href="#pr50-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr50-" name="item" id="tocItem69" title="50" />  </div> <span> 50 Appointment of directors </span> </a> <a class="nav-link " href="#pr51-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr51-" name="item" id="tocItem70" title="51" />  </div> <span> 51 Validity of acts of directors and secretary </span> </a> <a class="nav-link " href="#pr52-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr52-" name="item" id="tocItem71" title="52" />  </div> <span> 52 Removal of director </span> </a> </nav> <a class="nav-link" href="#P16-P24-P32-"> <b>Subdivision 2 Qualifications and disqualifications of directors and officers</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr53-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr53-" name="item" id="tocItem73" title="53" />  </div> <span> 53 Directors must be fit and proper persons </span> </a> <a class="nav-link " href="#pr54-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr54-" name="item" id="tocItem74" title="54" />  </div> <span> 54 Qualification of director </span> </a> <a class="nav-link " href="#pr55-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr55-" name="item" id="tocItem75" title="55" />  </div> <span> 55 Restriction on undischarged bankrupt </span> </a> <a class="nav-link " href="#pr56-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr56-" name="item" id="tocItem76" title="56" />  </div> <span> 56 Disqualification of unfit director of insolvent VCC </span> </a> <a class="nav-link " href="#pr57-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr57-" name="item" id="tocItem77" title="57" />  </div> <span> 57 Disqualification of director of VCC wound up on grounds of national security or interest </span> </a> <a class="nav-link " href="#pr58-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr58-" name="item" id="tocItem78" title="58" />  </div> <span> 58 Disqualification of director on conviction of certain offences, etc. </span> </a> <a class="nav-link " href="#pr59-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr59-" name="item" id="tocItem79" title="59" />  </div> <span> 59 Disqualification and debarment from being director or secretary in connection with default in filing documents under this Act </span> </a> <a class="nav-link " href="#pr60-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr60-" name="item" id="tocItem80" title="60" />  </div> <span> 60 Disqualification for being director of not less than 3 VCCs that were struck off within 5‑year period </span> </a> <a class="nav-link " href="#pr61-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr61-" name="item" id="tocItem81" title="61" />  </div> <span> 61 Disqualification under Limited Liability Partnerships Act 2005 and Companies Act 1967 </span> </a> <a class="nav-link " href="#pr61A-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr61A-" name="item" id="tocItem82" title="61A" />  </div> <span> 61A Debarment under Companies Act 1967 </span> </a> </nav> <a class="nav-link" href="#P16-P24-P33-"> <b>Subdivision 3 Duties and powers of directors, etc.</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr62-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr62-" name="item" id="tocItem84" title="62" />  </div> <span> 62 Disclosure by director of interests in transactions, property, offices, etc. </span> </a> <a class="nav-link " href="#pr63-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr63-" name="item" id="tocItem85" title="63" />  </div> <span> 63 Duty and liability of officers, etc. </span> </a> <a class="nav-link " href="#pr64-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr64-" name="item" id="tocItem86" title="64" />  </div> <span> 64 Powers of directors </span> </a> <a class="nav-link " href="#pr65-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr65-" name="item" id="tocItem87" title="65" />  </div> <span> 65 Loans and quasi-loans to directors, credit transactions and related arrangements, etc., and related provisions </span> </a> <a class="nav-link " href="#pr66-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr66-" name="item" id="tocItem88" title="66" />  </div> <span> 66 Register of director’s shareholdings </span> </a> <a class="nav-link " href="#pr67-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr67-" name="item" id="tocItem89" title="67" />  </div> <span> 67 Disclosure of director’s emoluments and general duty to make disclosure </span> </a> <a class="nav-link " href="#pr68-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr68-" name="item" id="tocItem90" title="68" />  </div> <span> 68 Payments to director for loss of office, and director’s emoluments </span> </a> </nav> <a class="nav-link" href="#P16-P24-P34-"> <b>Subdivision 4 Secretaries</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr69-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr69-" name="item" id="tocItem92" title="69" />  </div> <span> 69 Secretary </span> </a> </nav> <a class="nav-link" href="#P16-P25-"> <b>Division 5  Provisions applicable to officers</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr70-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr70-" name="item" id="tocItem94" title="70" />  </div> <span> 70 Officer liability, insurance and third party indemnity </span> </a> <a class="nav-link " href="#pr71-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr71-" name="item" id="tocItem95" title="71" />  </div> <span> 71 Registers of directors, secretaries, auditors and managers </span> </a> <a class="nav-link " href="#pr72-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr72-" name="item" id="tocItem96" title="72" />  </div> <span> 72 Duty to provide information </span> </a> <a class="nav-link " href="#pr73-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr73-" name="item" id="tocItem97" title="73" />  </div> <span> 73 Duty to keep consents of directors, secretaries and managers </span> </a> <a class="nav-link " href="#pr74-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr74-" name="item" id="tocItem98" title="74" />  </div> <span> 74 Self-notification in certain circumstances </span> </a> <a class="nav-link " href="#pr75-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr75-" name="item" id="tocItem99" title="75" />  </div> <span> 75 Provision of residential address to Registrar </span> </a> <a class="nav-link " href="#pr76-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr76-" name="item" id="tocItem100" title="76" />  </div> <span> 76 When residential address may be entered in register in place of alternate address </span> </a> </nav> <a class="nav-link" href="#P16-P26-"> <b>Division 6  Meetings and proceedings</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr76A-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr76A-" name="item" id="tocItem102" title="76A" />  </div> <span> 76A Arrangements for meetings </span> </a> <a class="nav-link " href="#pr77-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr77-" name="item" id="tocItem103" title="77" />  </div> <span> 77 Annual general meeting </span> </a> <a class="nav-link " href="#pr78-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr78-" name="item" id="tocItem104" title="78" />  </div> <span> 78 When VCC need not hold annual general meeting </span> </a> <a class="nav-link " href="#pr79-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr79-" name="item" id="tocItem105" title="79" />  </div> <span> 79 Convening of extraordinary general meeting on requisition and calling of meetings </span> </a> <a class="nav-link " href="#pr80-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr80-" name="item" id="tocItem106" title="80" />  </div> <span> 80 Other provisions as to meetings and resolutions </span> </a> </nav> <a class="nav-link" href="#P16-P27-"> <b>Division 7  Register of members</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr81-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr81-" name="item" id="tocItem108" title="81" />  </div> <span> 81 Register of members </span> </a> <a class="nav-link " href="#pr82-" data-part="P16-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr82-" name="item" id="tocItem109" title="82" />  </div> <span> 82 Inspection of register </span> </a> </nav> <a class="nav-link" href="#P17-"> <b>Part 7 INTERNATIONAL OBLIGATIONS AND PREVENTION OF MONEY LAUNDERING, TERRORISM FINANCING AND OTHER OFFENCES</b> </a> <a class="nav-link" href="#P17-P21-"> <b>Division 1  Directions and regulations to implement international obligations and prevent money laundering and terrorism</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr83-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr83-" name="item" id="tocItem112" title="83" />  </div> <span> 83 Directions and regulations to discharge Government’s international obligations </span> </a> <a class="nav-link " href="#pr84-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr84-" name="item" id="tocItem113" title="84" />  </div> <span> 84 Requirements for prevention of money laundering and terrorism financing </span> </a> <a class="nav-link " href="#pr85-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr85-" name="item" id="tocItem114" title="85" />  </div> <span> 85 Inspection of VCCs for compliance with directions and regulations </span> </a> </nav> <a class="nav-link" href="#P17-P22-"> <b>Division 2  Assistance to foreign authorities and domestic authorities</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr86-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr86-" name="item" id="tocItem116" title="86" />  </div> <span> 86 Interpretation of this Division </span> </a> <a class="nav-link " href="#pr87-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr87-" name="item" id="tocItem117" title="87" />  </div> <span> 87 Purpose of Division </span> </a> <a class="nav-link " href="#pr88-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr88-" name="item" id="tocItem118" title="88" />  </div> <span> 88 Assistance to AML/CFT authorities </span> </a> <a class="nav-link " href="#pr89-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr89-" name="item" id="tocItem119" title="89" />  </div> <span> 89 Assistance to domestic authorities </span> </a> <a class="nav-link " href="#pr90-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr90-" name="item" id="tocItem120" title="90" />  </div> <span> 90 Other provisions applicable to sections 88 and 89 </span> </a> <a class="nav-link " href="#pr91-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr91-" name="item" id="tocItem121" title="91" />  </div> <span> 91 Inspection by AML/CFT authority </span> </a> </nav> <a class="nav-link" href="#P17-P23-"> <b>Division 3  Miscellaneous provisions</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr92-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr92-" name="item" id="tocItem123" title="92" />  </div> <span> 92 Corporate offenders and unincorporated associations </span> </a> <a class="nav-link " href="#pr93-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr93-" name="item" id="tocItem124" title="93" />  </div> <span> 93 Composition of offences </span> </a> <a class="nav-link " href="#pr94-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr94-" name="item" id="tocItem125" title="94" />  </div> <span> 94 MAS officers, etc., treated as public officers </span> </a> <a class="nav-link " href="#pr95-" data-part="P17-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr95-" name="item" id="tocItem126" title="95" />  </div> <span> 95 Power to exempt and to make regulations for further modifications </span> </a> </nav> <a class="nav-link" href="#P18-"> <b>Part 8 ANNUAL RETURN, FINANCIAL STATEMENTS AND AUDIT</b> </a> <a class="nav-link" href="#P18-P21-"> <b>Division 1  Interpretation</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr96-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr96-" name="item" id="tocItem129" title="96" />  </div> <span> 96 Interpretation of this Part </span> </a> </nav> <a class="nav-link" href="#P18-P22-"> <b>Division 2  Annual return</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr97-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr97-" name="item" id="tocItem131" title="97" />  </div> <span> 97 Annual return </span> </a> </nav> <a class="nav-link" href="#P18-P23-"> <b>Division 3  Financial statements</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr98-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr98-" name="item" id="tocItem133" title="98" />  </div> <span> 98 Financial year </span> </a> <a class="nav-link " href="#pr99-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr99-" name="item" id="tocItem134" title="99" />  </div> <span> 99 Accounting records and systems of control </span> </a> <a class="nav-link " href="#pr100-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr100-" name="item" id="tocItem135" title="100" />  </div> <span> 100 Financial statements and consolidated financial statements </span> </a> <a class="nav-link " href="#pr101-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr101-" name="item" id="tocItem136" title="101" />  </div> <span> 101 Retention of documents laid before VCC at annual general meeting </span> </a> <a class="nav-link " href="#pr102-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr102-" name="item" id="tocItem137" title="102" />  </div> <span> 102 When directors need not lay financial statements before VCC </span> </a> <a class="nav-link " href="#pr103-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr103-" name="item" id="tocItem138" title="103" />  </div> <span> 103 Relief from requirements as to form and content of financial statements, consolidated financial statements and directors’ statement </span> </a> <a class="nav-link " href="#pr104-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr104-" name="item" id="tocItem139" title="104" />  </div> <span> 104 Defective financial statements, or consolidated financial statements and balance sheet </span> </a> <a class="nav-link " href="#pr105-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr105-" name="item" id="tocItem140" title="105" />  </div> <span> 105 Members of VCC entitled to financial statements, etc. </span> </a> <a class="nav-link " href="#pr106-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr106-" name="item" id="tocItem141" title="106" />  </div> <span> 106 Penalty </span> </a> </nav> <a class="nav-link" href="#P18-P24-"> <b>Division 4  Audit</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr107-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr107-" name="item" id="tocItem143" title="107" />  </div> <span> 107 Appointment and remuneration of auditors </span> </a> <a class="nav-link " href="#pr108-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr108-" name="item" id="tocItem144" title="108" />  </div> <span> 108 Resignation of auditor of VCC </span> </a> <a class="nav-link " href="#pr109-" data-part="P18-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr109-" name="item" id="tocItem145" title="109" />  </div> <span> 109 Other provisions concerning auditors </span> </a> </nav> <a class="nav-link" href="#P19-"> <b>Part 9 INVESTIGATIONS</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr110-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr110-" name="item" id="tocItem147" title="110" />  </div> <span> 110 Interpretation of this Part </span> </a> <a class="nav-link " href="#pr111-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr111-" name="item" id="tocItem148" title="111" />  </div> <span> 111 Power to declare VCC </span> </a> <a class="nav-link " href="#pr112-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr112-" name="item" id="tocItem149" title="112" />  </div> <span> 112 Appointment and powers of inspector </span> </a> <a class="nav-link " href="#pr113-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr113-" name="item" id="tocItem150" title="113" />  </div> <span> 113 Investigation of affairs of VCC by inspectors at direction of Minister </span> </a> <a class="nav-link " href="#pr114-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr114-" name="item" id="tocItem151" title="114" />  </div> <span> 114 Reports of inspectors </span> </a> <a class="nav-link " href="#pr115-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr115-" name="item" id="tocItem152" title="115" />  </div> <span> 115 Investigation of affairs of related corporation </span> </a> <a class="nav-link " href="#pr116-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr116-" name="item" id="tocItem153" title="116" />  </div> <span> 116 Procedure and powers of inspector </span> </a> <a class="nav-link " href="#pr117-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr117-" name="item" id="tocItem154" title="117" />  </div> <span> 117 Costs of investigations </span> </a> <a class="nav-link " href="#pr118-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr118-" name="item" id="tocItem155" title="118" />  </div> <span> 118 Suspension of actions and proceedings in respect of VCC </span> </a> <a class="nav-link " href="#pr119-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr119-" name="item" id="tocItem156" title="119" />  </div> <span> 119 Winding up of VCC </span> </a> <a class="nav-link " href="#pr120-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr120-" name="item" id="tocItem157" title="120" />  </div> <span> 120 Appointment and powers of inspectors to investigate ownership of VCC </span> </a> <a class="nav-link " href="#pr121-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr121-" name="item" id="tocItem158" title="121" />  </div> <span> 121 Power to require information as to persons interested in shares or debentures </span> </a> <a class="nav-link " href="#pr122-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr122-" name="item" id="tocItem159" title="122" />  </div> <span> 122 Power to impose restrictions on shares or debentures </span> </a> <a class="nav-link " href="#pr123-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr123-" name="item" id="tocItem160" title="123" />  </div> <span> 123 Inspectors appointed in other countries </span> </a> <a class="nav-link " href="#pr124-" data-part="P19-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr124-" name="item" id="tocItem161" title="124" />  </div> <span> 124 Miscellaneous provisions </span> </a> </nav> <a class="nav-link" href="#P110-"> <b>Part 10 RECEIVERS AND MANAGERS</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr125-" data-part="P110-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr125-" name="item" id="tocItem163" title="125" />  </div> <span> 125 Application of Part 8 of Companies Act 1967 </span> </a> <a class="nav-link " href="#pr126-" data-part="P110-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr126-" name="item" id="tocItem164" title="126" />  </div> <span> 126 Statement that receiver appointed </span> </a> <a class="nav-link " href="#pr127-" data-part="P110-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr127-" name="item" id="tocItem165" title="127" />  </div> <span> 127 Payment of certain debts out of assets subject to floating charge in priority to claims under charge </span> </a> <a class="nav-link " href="#pr128-" data-part="P110-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr128-" name="item" id="tocItem166" title="128" />  </div> <span> 128 Enforcement of duty of receiver, etc., to make returns </span> </a> </nav> <a class="nav-link" href="#P111-"> <b>Part 11 WINDING UP</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr129-" data-part="P111-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr129-" name="item" id="tocItem168" title="129" />  </div> <span> 129 Disqualification of liquidators </span> </a> <a class="nav-link " href="#pr130-" data-part="P111-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr130-" name="item" id="tocItem169" title="130" />  </div> <span> 130 Application of Part 10 of Companies Act 1967 </span> </a> </nav> <a class="nav-link" href="#P112-"> <b>Part 12 TRANSFER OF REGISTRATION</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr131-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr131-" name="item" id="tocItem171" title="131" />  </div> <span> 131 Foreign corporate entities to which this Part applies </span> </a> <a class="nav-link " href="#pr132-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr132-" name="item" id="tocItem172" title="132" />  </div> <span> 132 Interpretation of this Part </span> </a> <a class="nav-link " href="#pr133-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr133-" name="item" id="tocItem173" title="133" />  </div> <span> 133 Name of VCCs to be registered under this Part </span> </a> <a class="nav-link " href="#pr134-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr134-" name="item" id="tocItem174" title="134" />  </div> <span> 134 Application for registration </span> </a> <a class="nav-link " href="#pr135-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr135-" name="item" id="tocItem175" title="135" />  </div> <span> 135 Registration </span> </a> <a class="nav-link " href="#pr136-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr136-" name="item" id="tocItem176" title="136" />  </div> <span> 136 When registration must be refused </span> </a> <a class="nav-link " href="#pr137-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr137-" name="item" id="tocItem177" title="137" />  </div> <span> 137 Effect of registration </span> </a> <a class="nav-link " href="#pr138-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr138-" name="item" id="tocItem178" title="138" />  </div> <span> 138 Revocation of registration </span> </a> <a class="nav-link " href="#pr139-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr139-" name="item" id="tocItem179" title="139" />  </div> <span> 139 Duty of VCC to register pre-existing charges </span> </a> <a class="nav-link " href="#pr140-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr140-" name="item" id="tocItem180" title="140" />  </div> <span> 140 Duties of VCC with respect to issue of certificates </span> </a> <a class="nav-link " href="#pr141-" data-part="P112-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr141-" name="item" id="tocItem181" title="141" />  </div> <span> 141 Regulations </span> </a> </nav> <a class="nav-link" href="#P113-"> <b>Part 13 GENERAL PROVISIONS</b> </a> <a class="nav-link" href="#P113-P21-"> <b>Division 1  Remedies of members and debenture holders for oppression, etc.</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr142-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr142-" name="item" id="tocItem184" title="142" />  </div> <span> 142 Personal remedies in cases of oppression or injustice, and derivative or representative action </span> </a> </nav> <a class="nav-link" href="#P113-P22-"> <b>Division 2  Offences</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr143-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr143-" name="item" id="tocItem186" title="143" />  </div> <span> 143 Application </span> </a> <a class="nav-link " href="#pr144-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr144-" name="item" id="tocItem187" title="144" />  </div> <span> 144 Application of provisions of Division 2 of Part 12 of Companies Act 1967, etc. </span> </a> <a class="nav-link " href="#pr145-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr145-" name="item" id="tocItem188" title="145" />  </div> <span> 145 False statements or reports </span> </a> <a class="nav-link " href="#pr146-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr146-" name="item" id="tocItem189" title="146" />  </div> <span> 146 Obtaining payment, etc., to VCC by false promise of officer or agent of VCC </span> </a> <a class="nav-link " href="#pr147-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr147-" name="item" id="tocItem190" title="147" />  </div> <span> 147 Default penalties </span> </a> <a class="nav-link " href="#pr148-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr148-" name="item" id="tocItem191" title="148" />  </div> <span> 148 Composition of offences </span> </a> </nav> <a class="nav-link" href="#P113-P23-"> <b>Division 3  Other general provisions</b> </a> <nav class="nav nav-pills flex-column"> <a class="nav-link " href="#pr149-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr149-" name="item" id="tocItem193" title="149" />  </div> <span> 149 Service of documents </span> </a> <a class="nav-link " href="#pr150-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr150-" name="item" id="tocItem194" title="150" />  </div> <span> 150 Electronic transmission of documents </span> </a> <a class="nav-link " href="#pr151-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr151-" name="item" id="tocItem195" title="151" />  </div> <span> 151 Costs of proceedings and security for costs </span> </a> <a class="nav-link " href="#pr152-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr152-" name="item" id="tocItem196" title="152" />  </div> <span> 152 Disposal of shares of shareholder whose whereabouts are unknown </span> </a> <a class="nav-link " href="#pr153-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr153-" name="item" id="tocItem197" title="153" />  </div> <span> 153 Power to grant relief </span> </a> <a class="nav-link " href="#pr154-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr154-" name="item" id="tocItem198" title="154" />  </div> <span> 154 Irregularities </span> </a> <a class="nav-link " href="#pr154A-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr154A-" name="item" id="tocItem199" title="154A" />  </div> <span> 154A Technological disruptions, etc., in meetings </span> </a> <a class="nav-link " href="#pr155-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr155-" name="item" id="tocItem200" title="155" />  </div> <span> 155 Inspection of books of VCC and related provisions </span> </a> <a class="nav-link " href="#pr156-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr156-" name="item" id="tocItem201" title="156" />  </div> <span> 156 Production and inspection of books or papers where offence suspected </span> </a> <a class="nav-link " href="#pr157-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr157-" name="item" id="tocItem202" title="157" />  </div> <span> 157 VCC records </span> </a> <a class="nav-link " href="#pr158-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr158-" name="item" id="tocItem203" title="158" />  </div> <span> 158 Translations of instruments, etc. </span> </a> <a class="nav-link " href="#pr159-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr159-" name="item" id="tocItem204" title="159" />  </div> <span> 159 Certificate of incorporation is conclusive evidence </span> </a> <a class="nav-link " href="#pr160-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr160-" name="item" id="tocItem205" title="160" />  </div> <span> 160 Court may compel compliance </span> </a> <a class="nav-link " href="#pr161-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr161-" name="item" id="tocItem206" title="161" />  </div> <span> 161 Disclosure of information by Registrar to MAS </span> </a> <a class="nav-link " href="#pr162-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr162-" name="item" id="tocItem207" title="162" />  </div> <span> 162 Disclosure of information by MAS to ACRA or Registrar </span> </a> <a class="nav-link " href="#pr163-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr163-" name="item" id="tocItem208" title="163" />  </div> <span> 163 Appeals against act or decision of Registrar </span> </a> <a class="nav-link " href="#pr164-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr164-" name="item" id="tocItem209" title="164" />  </div> <span> 164 Rules of Court </span> </a> <a class="nav-link " href="#pr165-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr165-" name="item" id="tocItem210" title="165" />  </div> <span> 165 Regulations </span> </a> <a class="nav-link " href="#pr166-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr166-" name="item" id="tocItem211" title="166" />  </div> <span> 166 Amendment of Schedules </span> </a> <a class="nav-link " href="#pr167-" data-part="P113-"> <div class="form-check"> <input class="form-check-input" type="checkbox" value="pr167-" name="item" id="tocItem212" title="167" />  </div> <span> 167 Consequential amendments to other Acts </span> </a> </nav> <a class="nav-link" href="#Sc1-"> <b>FIRST SCHEDULE Modifications of Part 10 of Companies Act 1967 in its application to winding up of a sub-fund of an umbrella VCC</b> </a> <a class="nav-link" href="#Sc2-"> <b>SECOND SCHEDULE Content of Directors’ statement</b> </a> <a class="nav-link" href="#Sc3-"> <b>THIRD SCHEDULE Provisions for Application of section 162</b> </a> <a class="nav-link" href="#xv-"> <b>Legislative History</b> </a> <a class="nav-link" href="#xv-ta-oc2-"> <b>Abbreviations</b> </a> <a class="nav-link" href="#xy-"> <b>Comparative Table</b> </a> </nav> </div> <div class="row" id="tocButton"> <div class="col-12 toc-bottom"> <button type="button" class="btn btn-default btn-sm" data-bind="click: 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</li> <li> <a href="/Help/SSO-Guide/Category/4" aria-label="Help" title="Help" class="help"> <span class="fa fa-question-circle"></span> </a> </li> </ul> </div> </div> <div class="desktop-timeline hidden-xs hidden-sm" data-bind="visible: Show.DesktopTimeline" style="display: none"> <ul class="nav nav-tabs"> <li class="nav-item" role="presentation"><a class="nav-link" href="#" data-bind="css: { 'active': Show.DesktopDocTimeline }, click: ShowDesktopDocTimeline">Document</a></li> <li class="nav-item" role="presentation"><a class="nav-link" href="#" data-bind="css: { 'active': Show.DesktopProvTimeline }, click: ShowDesktopProvTimeline">Provision</a></li> </ul> <div class="timeline" id="docTimeline" style="display: none" data-bind="visible: Show.DesktopDocTimeline"> <ul> <li class="" data-id="09706813-1dd2-475b-85fc-cd68c39010e8"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20200114?DocDate=20191004&ValidDate=20200114" rel="nofollow"> 14 Jan 2020 </a> <a href="/Act/VCCA2018/Historical/20200114?DocDate=20191004&ValidDate=20200114&ViewType=Pdf&_=20250308213403" aria-label="Download PDF (587.7 KB)" title="Download PDF (587.7 KB)" data-size=" (587.7 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20200114?DocDate=20191004&ValidDate=20200114" class="timeline-popover" title="Published Date" data-date="12 Nov 2018" aria-label="Published Date" rel="nofollow"> <div class="status"> </div> </a> <div class="group_status"> <div> <span> Act 44 of 2018 </span> </div> </div> </li> <li class="" data-id="2b48b770-cafa-4cee-827b-35732d69969a"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20200115?DocDate=20191212&ValidDate=20200115" rel="nofollow"> 15 Jan 2020 </a> <a href="/Act/VCCA2018/Historical/20200115?DocDate=20191212&ValidDate=20200115&ViewType=Pdf&_=20250308203335" aria-label="Download PDF (707.0 KB)" title="Download PDF (707.0 KB)" data-size=" (707.0 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20200115?DocDate=20191212&ValidDate=20200115" class="timeline-popover" title="Published Date" data-date="04 Oct 2019" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=7bb6ecff-e5bd-4b5b-91c1-79ed4b533441&SourceValidDate=20200115&SourceTransactionDate=20191004&SourcePublishDate=20191004&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=28&SourceYear=2019" target="_blank">Act 28 of 2019</a> </div> </div> </li> <li class="" data-id="f5fd502b-cb0d-4e3d-9368-f4e66bb45ee2"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20210102?DocDate=20211231&ValidDate=20210102" rel="nofollow"> 02 Jan 2021 </a> <a href="/Act/VCCA2018/Historical/20210102?DocDate=20211231&ValidDate=20210102&ViewType=Pdf&_=20250308185616" aria-label="Download PDF (592.3 KB)" title="Download PDF (592.3 KB)" data-size=" (592.3 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20210102?DocDate=20211231&ValidDate=20210102" class="timeline-popover" title="Published Date" data-date="12 Dec 2019" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=c6a50fcb-3c45-45ba-b287-05398e02e20b&SourceValidDate=20210102&SourceTransactionDate=20191212&SourcePublishDate=20191212&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=40&SourceYear=2019" target="_blank">Act 40 of 2019</a> </div> </div> </li> <li class="" data-id="c333b4e0-e310-4667-834f-5a80bf0e4d1c"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20211231?DocDate=20211011&ValidDate=20211231" rel="nofollow"> 31 Dec 2021 </a> <a href="/Act/VCCA2018/Historical/20211231?DocDate=20211011&ValidDate=20211231&ViewType=Pdf&_=20241205123639" aria-label="Download PDF (702.3 KB)" title="Download PDF (702.3 KB)" data-size=" (702.3 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20211231?DocDate=20211011&ValidDate=20211231" class="timeline-popover" title="Published Date" data-date="31 Dec 2021" aria-label="Published Date" rel="nofollow"> <div class="status"> </div> </a> <div class="group_status"> <div> <span> 2020 RevEd </span> </div> </div> </li> <li class="" data-id="05e501b4-34a0-4a8d-bf95-c028568ab526"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20220401?DocDate=20230203&ValidDate=20220401" rel="nofollow"> 01 Apr 2022 </a> <a href="/Act/VCCA2018/Historical/20220401?DocDate=20230203&ValidDate=20220401&ViewType=Pdf&_=20241205123638" aria-label="Download PDF (701.6 KB)" title="Download PDF (701.6 KB)" data-size=" (701.6 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20220401?DocDate=20230203&ValidDate=20220401" class="timeline-popover" title="Published Date" data-date="11 Oct 2021" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=d8ed4107-a7a8-44e2-9ed5-2b5a9ef853fd&SourceValidDate=20220401&SourceTransactionDate=20211011&SourcePublishDate=20211011&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=25&SourceYear=2021" target="_blank">Act 25 of 2021</a> </div> </div> </li> <li class="" data-id="326f08e1-ff33-40cc-ae45-5bad3d402679"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20230401?DocDate=20220511&ValidDate=20230401" rel="nofollow"> 01 Apr 2023 </a> <a href="/Act/VCCA2018/Historical/20230401?DocDate=20220511&ValidDate=20230401&ViewType=Pdf&_=20241205115807" aria-label="Download PDF (701.7 KB)" title="Download PDF (701.7 KB)" data-size=" (701.7 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20230401?DocDate=20220511&ValidDate=20230401" class="timeline-popover" title="Published Date" data-date="03 Feb 2023" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=ba6bdf8e-0fc4-42a7-a946-bd19a2def6e7&SourceValidDate=20230401&SourceTransactionDate=20230203&SourcePublishDate=20230203&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=36&SourceYear=2022" target="_blank">Act 36 of 2022</a> </div> </div> </li> <li class="" data-id="30077194-bc80-4555-b3dc-10fc2d243bc8"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20230428?DocDate=20230608&ValidDate=20230428" rel="nofollow"> 28 Apr 2023 </a> <a href="/Act/VCCA2018/Historical/20230428?DocDate=20230608&ValidDate=20230428&ViewType=Pdf&_=20250320111300" aria-label="Download PDF (705.8 KB)" title="Download PDF (705.8 KB)" data-size=" (705.8 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20230428?DocDate=20230608&ValidDate=20230428" class="timeline-popover" title="Published Date" data-date="11 May 2022" aria-label="Published Date" rel="nofollow"> <div class="status informal"> </div> </a> <div class="group_status"> <div> <span> Amended by </span> <br /> <a href="/Details/GetAmendingLegislation?SourceDocumentId=515ff924-f54b-4f60-9f76-73ad641a6103&SourceValidDate=20230428&SourceTransactionDate=20220511&SourcePublishDate=20220511&SourceDocStatus=published&HistoryType=amend&SourceDocType=act&SourceNo=18&SourceYear=2022" target="_blank">Act 18 of 2022</a> </div> </div> </li> <li class="" data-id="8aee5cd7-edab-4297-a4cc-83f7fcfe1d9f"> <div class="timestamp"> <span> <a href="/Act/VCCA2018/Historical/20230701?DocDate=20220511&ValidDate=20230701" rel="nofollow"> 01 Jul 2023 </a> <a href="/Act/VCCA2018/Historical/20230701?DocDate=20220511&ValidDate=20230701&ViewType=Pdf&_=20241205123826" aria-label="Download PDF (722.7 KB)" title="Download PDF (722.7 KB)" data-size=" (722.7 KB)" class="file-download"> <span class="fa fa-file-pdf-o"></span> </a> </span> </div> <a href="/Act/VCCA2018/Historical/20230701?DocDate=20220511&ValidDate=20230701" class="timeline-popover" title="Published Date" data-date="08 Jun 2023" aria-label="Published Date" 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<div class="fragview" id="fragview"> <a name="top"></a> <div class="search-within"> <ul class="nav nav-tabs" id="searchWithinTabs" style="display: none"> <li role="presentation" id="searchWithinListTab" style="display: none"><a class="nav-link active" href="#">Search Results</a></li> <li role="presentation" id="searchWithinProvTab" style="display: none"><a class="nav-link " href="#"></a></li> </ul> <div id="searchWithinList" style="" class="search-list"> </div> </div> <div id="legisContent"> <div class="legis" id="legis"><div class="front"><table width="100%"><tr><td class="actHd" id="aT-">Variable Capital Companies <br/>Act 2018</td></tr></table><table width="100%"><tr><td class="revdHdr">2020 REVISED EDITION</td></tr></table><table width="100%"><tr><td class="revdTxt">This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021</td></tr></table><table width="100%"><tr><td class="longTitle" id="al-">An Act to provide for the incorporation, operation and regulation of bodies corporate to be known as variable capital companies and to provide for related matters.</td></tr></table><table width="100%"><tr><td class="cDate">[14 January 2020]</td></tr></table></div><div class="body"><table width="100%"><tr><td class="part" id="P11-"><div class="partNo">PART 1</div><table width="100%"><tr><td class="partHdr" id="P11-he-">PRELIMINARY</td></tr></table><div class="prov1"><table width="100%"><tr><td class="prov1Hdr" id="pr1-"><span class="noBold"></span><span class="">Short title</span></td></tr></table><table width="100%"><tr><td class="prov1Txt"><strong>1.</strong>  This Act is the Variable Capital Companies Act 2018.</td></tr></table></div><div class="prov1"><table width="100%"><tr><td class="prov1Hdr" id="pr2-"><span class="noBold"></span><span class="">General interpretation</span></td></tr></table><table width="100%"><tr><td class="prov1Txt"><strong>2.</strong><a name="pr2-ps1-"></a><span class="prov2TxtIL">—(1)  In this Act, unless the contrary intention appears —<table width="100%"><tr><td class="def" style="font-size:13pt">“Accounting Standards”, in relation to a VCC, means —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">the accounting standards mentioned in section 100(8)(<em>a</em>) or the accounting standards or practices prescribed under section 100(8)(<em>b</em>); or</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">where those accounting standards or practices (as the case may be) are substituted with other accounting standards under section 100(9) in relation to that VCC, the other accounting standards;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“accounts” means profit and loss accounts and balance sheets and includes notes (other than auditors’ reports or directors’ reports) attached or intended to be read with any of those profit and loss accounts or balance sheets;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“ACRA” means the Accounting and Corporate Regulatory Authority established under section 3 of the Accounting and Corporate Regulatory Authority Act 2004;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“book-entry securities” has the meaning given by section 81SF of the Securities and Futures Act 2001;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“books” has the meaning given by section 4(1) of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“borrowing VCC” means a VCC that is or will be under a liability (whether or not such liability is present or future) to repay any money received or to be received by it in response to an invitation to the public to subscribe for or purchase debentures of the VCC;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“business day” means any day other than a Saturday, Sunday or public holiday;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“certified”  —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">in relation to a copy of a document, means certified in the prescribed manner to be a true copy of the document; and</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">in relation to a translation of a document, means certified in the prescribed manner to be a correct translation of the document into the English language;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“charge” includes a mortgage and any agreement to give or execute a charge or mortgage whether upon demand or otherwise;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“collective investment scheme” has the meaning given by section 2(1) of the Securities and Futures Act 2001;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“company” has the meaning given by section 4(1) of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“consolidated financial statements” has the meaning given by the Accounting Standards;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“constitution”, in relation to a VCC, means the constitution of the VCC that is registered with the Registrar under section 16(4), as may be amended from time to time;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“contributory”  —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">in relation to a VCC, means a person liable to contribute to the assets of the VCC in the event of its being wound up, and includes the holder of fully paid shares in the VCC and (before the final determination of the persons who are contributories) any person alleged to be a contributory of the VCC; and</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">in relation to a sub-fund, means a person liable to contribute to the assets of the sub‑fund in the event of its being wound up, and includes the holder of fully paid shares in the VCC that are issued in respect of that sub‑fund and (before the final determination of the persons who are contributories) any person alleged to be a contributory of the sub‑fund;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“corporation” has the meaning given by section 4(1) of the Companies Act 1967 and (to avoid doubt) includes a VCC;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“Court” means the General Division of the High Court;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“creditors’ voluntary winding up” means a winding up under Division 3 of Part 10 of the Companies Act 1967 as applied by section 130, but not a members’ voluntary winding up;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“custodian”  —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">in relation to a non-umbrella VCC, means an entity to which the assets of the VCC are entrusted for safekeeping; and</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">in relation to a sub-fund, means an entity to which the assets of the sub‑fund are entrusted for safekeeping;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“debenture” includes debenture stock, bonds, notes and any other securities of a VCC whether constituting a charge on the assets of the VCC or not, but does not include —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">a cheque, letter of credit, order for the payment of money or bill of exchange;</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">subject to the regulations made under section 165, a promissory note having a face value of not less than $100,000 and having a maturity period of not more than 12 months; and</td></tr><tr><td class="p1DefNo">(<em>c</em>)</td><td class="pDefTxt">for the purposes of a prescribed provision of this Act, such instrument or class of instruments as may be prescribed;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“default penalty” means a default penalty within the meaning of section 147;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“director” has the meaning given by section 4(1) of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“document” includes any summons, order and other legal process, and any notice and register;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“electronic communication” has the meaning given by section 4(1) of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“emoluments”, in relation to any director or auditor of a VCC, includes any fees, percentages and other payments made (including the money value of any allowances or perquisites) or consideration given, directly or indirectly, to the director or auditor by that VCC or by a holding company or a subsidiary of that VCC, whether made or given to him or her in his or her capacity as a director or an auditor or otherwise in connection with the affairs of that VCC or of the holding company or the subsidiary;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“expert” includes an engineer, a valuer, an accountant and any other person whose profession or reputation gives authority to a statement made by him or her;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“financial statements”, in relation to a VCC, means the financial statements of the VCC required to be prepared in accordance with the Accounting Standards;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“financial year”, in relation to a VCC, means —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">the period in respect of which its financial statements are made up, whether that period is a year or not; and</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">which is determined in accordance with section 98;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“FSMA 2022” means the Financial Services and Markets Act 2022;<div class="amendNote">[Act 18 of 2022 wef 28/04/2023]</div></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“fund administration service” includes valuation, accounting, settlement of expenses and acting as a transfer agent;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“holding company” has the meaning given by section 5 of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“liquidator” includes the Official Receiver when acting as the liquidator of a VCC or a sub‑fund;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“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;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“marketable securities” has the meaning given by section 4(1) of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“MAS” means the Monetary Authority of Singapore established under section 3 of the MAS Act;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“MAS Act” means the Monetary Authority of Singapore Act 1970;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“members’ voluntary winding up” means a winding up under Division 3 of Part 10 of the Companies Act 1967 as applied by section 130, where a declaration has been made and lodged pursuant to section 293 of that Act as applied by section 130;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“net asset value”, in relation to a VCC, means the total assets less the total liabilities of the VCC, as determined in accordance with the Accounting Standards;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“non-umbrella VCC” means a VCC that is not an umbrella VCC;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“officer”, in relation to a VCC or other corporation, includes —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">any director or secretary of the corporation or a person employed in an executive capacity by the corporation;</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and</td></tr><tr><td class="p1DefNo">(<em>c</em>)</td><td class="pDefTxt">any liquidator of the corporation (being a VCC or company) appointed in a voluntary winding up,</td></tr></table><table width="100%"><tr><td class="defSO" style="font-size:13pt">but does not include —</td></tr></table><table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>d</em>)</td><td class="pDefTxt">any receiver who is not also a manager;</td></tr><tr><td class="p1DefNo">(<em>e</em>)</td><td class="pDefTxt">any receiver and manager appointed by the Court;</td></tr><tr><td class="p1DefNo">(<em>f</em>)</td><td class="pDefTxt">any liquidator appointed by the Court or by the creditors; or</td></tr><tr><td class="p1DefNo">(<em>g</em>)</td><td class="pDefTxt">a judicial manager appointed by the Court under Part 8A of the Companies Act 1967 (if applicable);</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“Official Receiver” means the Official Assignee appointed under the Bankruptcy Act (Cap. 20, 2009 Revised Edition), and includes the deputy of any such Official Assignee and any person appointed as Assistant Official Assignee;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“profit and loss account” includes income and expenditure account, revenue account or any other account showing the results of the business of a corporation for a period;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“prohibition order” means —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">a prohibition order made under section 101A(1) of the Securities and Futures Act 2001 as in force immediately before the date of commencement of section 209(1)(<em>a</em>), (<em>c</em>) and (<em>d</em>), (4) to (14), (17) and (18) of the FSMA 2022;</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">a prohibition order made under section 101A(1) of the Securities and Futures Act 2001 as in force immediately before the date of commencement of section 209(1)(<em>a</em>), (<em>c</em>) and (<em>d</em>), (4) to (14), (17) and (18) of the FSMA 2022, and as continued by section 220(3) of the FSMA 2022; or</td></tr><tr><td class="p1DefNo">(<em>c</em>)</td><td class="pDefTxt">a prohibition order made under section 7(1) of the FSMA 2022;<div class="amendNote">[Act 18 of 2022 wef 31/07/2024]</div></td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“prospectus” means any prospectus, notice, circular, material, advertisement, publication or other document used to make an offer of shares in a VCC or proposed VCC, but does not include —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">a profile statement mentioned in section 296(2) of the Securities and Futures Act 2001;</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">any material, advertisement or publication which is authorised by section 300 of that Act (other than subsection (3)); or</td></tr><tr><td class="p1DefNo">(<em>c</em>)</td><td class="pDefTxt">a product highlights sheet mentioned in section 296A(1) of that Act;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“public accountant” means a person who is registered or treated as registered under the Accountants Act 2004 as a public accountant;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“qualified representative”, in relation to the manager of a VCC, means a representative (within the meaning of section 2(1) of the Securities and Futures Act 2001) of the manager who is —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1DefNo">(<em>a</em>)</td><td class="pDefTxt">a person described in section 99B(1)(<em>a</em>), (<em>b</em>), (<em>c</em>) or (<em>d</em>) of the Securities and Futures Act 2001; or</td></tr><tr><td class="p1DefNo">(<em>b</em>)</td><td class="pDefTxt">a person who is exempt from section 99B(1) of that Act under section 99B(2) of that Act;</td></tr></table></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“register of auditors” means a register of auditors kept by the Registrar under section 173 of the Companies Act 1967 as applied by section 71(1);</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“register of directors” means a register of directors kept by the Registrar under section 173 of the Companies Act 1967 as applied by section 71(1);</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“register of managers” means a register of managers kept by the Registrar under section 71(3);</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“register of members” means a register of members kept by a VCC under section 81;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“register of secretaries” means a register of secretaries kept by the Registrar under section 173 of the Companies Act 1967 as applied by section 71(1);</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“registered qualified individual” means a qualified individual registered under section 32 of the Accounting and Corporate Regulatory Authority Act 2004;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“Registrar” means the Registrar of VCCs appointed under this Act, and includes any Deputy or Assistant Registrar of VCCs;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“registration number”, in relation to a sub-fund, means the registration number given by the Registrar to the sub‑fund upon its registration under section 27;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“related corporation”, in relation to a corporation, means a corporation that is treated as related to the firstmentioned corporation under section 4;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“share”, in relation to a VCC, means a unit in a collective investment scheme that is part of the VCC, and includes a share taken by a subscriber to the constitution of a VCC, whether or not it is such unit;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“solicitor” means an advocate and solicitor of the Supreme Court;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“sub-fund” means a collective investment scheme that is part of an umbrella VCC;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“subsidiary” has the meaning given by section 5 of the Companies Act 1967;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“umbrella VCC” means a VCC the constitution of which provides that it consists of, or is to consist of, 2 or more collective investment schemes, or words to that effect;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“unit”, in relation to a collective investment scheme, has the meaning given by section 2(1) of the Securities and Futures Act 2001;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;</td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“virtual meeting technology” means any technology that allows a person to participate in a meeting without being physically present at the place of meeting;<div class="amendNote">[Act 17 of 2023 wef 01/07/2023]</div></td></tr></table><table width="100%"><tr><td class="def" style="font-size:13pt">“wholly owned subsidiary” has the meaning given by section 5B of the Companies Act 1967.<div class="amendNote">[28/2019; 40/2019]</div></td></tr></table></span><a name="pr2-ps2-"></a><table width="100%"><tr><td class="prov2Txt">(2)  In this Act (including a provision of the Companies Act applied by this Act) —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">a reference to the directors of a VCC is, in the case of a VCC that has only one director, to that director; and</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">a reference to the doing of any act by 2 or more directors is, in the case of a VCC that has only one director, to the doing of that act by that director.</td></tr></table></td></tr></table><a name="pr2-ps3-"></a><table width="100%"><tr><td class="prov2Txt">(3)  In this Act —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">a reference to a debt, obligation or liability of a sub‑fund is to a debt, obligation or liability that is incurred by the umbrella VCC concerned for the purpose of or that is attributable to that sub‑fund;</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">a reference to a debenture of a sub-fund is to a debenture issued by the umbrella VCC concerned in respect of a debt, obligation or liability of the sub‑fund;</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">a reference to any asset, property or undertaking of a sub‑fund is to any asset, property or undertaking that is held by the umbrella VCC concerned for the purpose of or that is attributable to that sub‑fund; and</td></tr><tr><td class="p1No">(<em>d</em>)</td><td class="pTxt">a reference to a creditor of a sub-fund is to a creditor of the umbrella VCC concerned in respect of a debt, obligation or liability of the sub‑fund.<div class="amendNote">[28/2019]</div></td></tr></table></td></tr></table><a name="pr2-ps3A-"></a><table width="100%"><tr><td class="prov2Txt">(3A)  A reference in this Act to a provision of the Companies Act 1967 that is repealed by the Insolvency, Restructuring and Dissolution Act 2018 is a reference to that provision as in force immediately before it is repealed.</td></tr></table><a name="pr2-ps4-"></a><table width="100%"><tr><td class="prov2Txt">(4)  Subject to section 5, section 4(2), (5), (5A) and (7) of the Companies Act 1967 applies for the purposes of interpreting this Act, including a provision of the Companies Act applied by this Act.</td></tr></table><a name="pr2-ps5-"></a><table width="100%"><tr><td class="prov2Txt">(5)  A reference to the Minister in any of the following provisions includes the Minister of State for the Ministry of the Minister, who is authorised by the Minister for the purposes of hearing an appeal under that provision:<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">sections 18(3), 21(4), 135(9) and 136(3);</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">sections 27(5), (5AA), (5A) and (12C), and 28(3), (3D), (3DA) and (3E) of the Companies Act 1967 as applied by section 21;</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">section 155B(8) of the Companies Act 1967 as applied by section 59.</td></tr></table></td></tr></table><a name="pr2-ps6-"></a><table width="100%"><tr><td class="prov2Txt">(6)  Subject to section 5 and the modifications in subsection (7), section 7 (except subsections (1) and (6A)) of the Companies Act 1967 applies for the purposes of —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">section 66;</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">section 163 of the Companies Act 1967 as applied by section 65; and</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">section 165 of the Companies Act 1967 as applied by section 67.</td></tr></table></td></tr></table><a name="pr2-ps7-"></a><table width="100%"><tr><td class="prov2Txt">(7)  The modifications mentioned in subsection (6) are as follows:<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">section 7(3) of the Companies Act 1967 only applies in relation to a share of a corporation other than a VCC;</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">section 7(9)(<em>ca</em>) of the Companies Act 1967 is omitted;</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">a book-entry security is treated as an interest in a share;</td></tr><tr><td class="p1No">(<em>d</em>)</td><td class="pTxt">a person that is a subsidiary of a VCC does not have an interest in the shares of the VCC by reason only that that interest is purchased or otherwise acquired by the subsidiary under section 22(6) or (11).</td></tr></table></td></tr></table><a name="pr2-ps8-"></a><table width="100%"><tr><td class="prov2Txt">(8)  For the purposes of any provision of this Act (including a provision of the Companies Act applied by this Act) that provides that an officer of a corporation who is in default is guilty of an offence or is liable to a penalty or punishment, an officer of the corporation is in default if the officer knowingly and wilfully —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">commits the offence; or</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">authorises or permits the commission of the offence.</td></tr></table></td></tr></table><a name="pr2-ps9-"></a><table width="100%"><tr><td class="prov2Txt">(9)  Where it is necessary, in a proceeding for an offence under this Act, to establish the conduct of the manager of a VCC or the custodian of a non‑umbrella VCC or sub‑fund, any conduct engaged in or on behalf of the manager or custodian —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">by a director, an employee or an agent of the manager or custodian within the scope of his or her actual or apparent authority; or</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">by any other person at the direction or with the consent or agreement (whether express or implied) of a director, an employee or an agent of the manager or custodian, where the giving of the direction, consent or agreement is within the scope of the actual or apparent authority of the director, employee or agent,</td></tr></table><table width="100%"><tr><td class="prov1N2SO" style="font-size:13pt">is treated as having been engaged in by the manager or custodian.</td></tr></table></td></tr></table><a name="pr2-ps10-"></a><table width="100%"><tr><td class="prov2Txt">(10)  Where it is necessary, in a proceeding for an offence under this Act, to establish the state of mind of a manager of a VCC, or a custodian of a non‑umbrella VCC or sub‑fund, in respect of conduct engaged in, or treated under subsection (9) as having been engaged in, by the manager or custodian, it is sufficient to show that a director, an employee or an agent of the manager or custodian, being one by whom the conduct was engaged in within the scope of his or her actual or apparent authority, had that state of mind.</td></tr></table><a name="pr2-ps11-"></a><table width="100%"><tr><td class="prov2Txt">(11)  A reference in subsection (10) to the state of mind of a person includes the knowledge, intention, opinion, belief or purpose of the person and the person’s reasons for his or her intention, opinion, belief or purpose.</td></tr></table></td></tr></table></div><div class="prov1"><table width="100%"><tr><td class="prov1Hdr" id="pr3-"><span class="noBold"></span><span class="">Affairs of corporation or sub-fund</span></td></tr></table><table width="100%"><tr><td class="prov1Txt"><strong>3.</strong><a name="pr3-ps1-"></a><span class="prov2TxtIL">—(1)  Unless the context otherwise requires, a reference to the affairs of a VCC or other corporation (called in this subsection the corporation) in the following provisions:<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">Part 9, including a provision of the Companies Act 1967 applied by that Part;</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">section 130(13);</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">paragraph (<em>f</em>) of the provision that replaces section 254(1) of the Companies Act because of section 130(8);</td></tr><tr><td class="p1No">(<em>d</em>)</td><td class="pTxt">section 142;</td></tr><tr><td class="p1No">(<em>e</em>)</td><td class="pTxt">section 145;</td></tr><tr><td class="p1No">(<em>f</em>)</td><td class="pTxt">section 155,</td></tr></table><table width="100%"><tr><td class="prov1N2SO" style="font-size:13pt">is a reference to —</td></tr></table><table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>g</em>)</td><td class="pTxt">the promotion, formation, membership, control, business, trading, transactions and dealings (whether alone or jointly with another person and including transactions and dealings as agent, bailee or trustee), property (whether held alone or jointly with another person and including property held as agent, bailee or trustee), liabilities (including liabilities owed jointly with another person and liabilities as trustee), profits and other income, receipts, losses, outgoings and expenditure of the corporation;</td></tr><tr><td class="p1No">(<em>h</em>)</td><td class="pTxt">in the case of a corporation (not being a trustee corporation) that is a trustee (but without affecting paragraph (<em>g</em>)), matters concerned with the ascertainment of the identity of the persons who are beneficiaries under the trust, their rights under the trust and any payments that they have received, or are entitled to receive, under the terms of the trust;</td></tr><tr><td class="p1No">(<em>i</em>)</td><td class="pTxt">the internal management and proceeding of the corporation;</td></tr><tr><td class="p1No">(<em>j</em>)</td><td class="pTxt">any act or thing done (including any contract made and any transaction entered into) by or on behalf of the corporation, or to or in relation to the corporation or its business or property, at a time when —<table class="p2_1" style="font-size:13pt" width="100%"><tr id="pr3-ps1-p1j-p2i-"><td class="p2No">(i)</td><td class="p2Txt">a receiver, or a receiver and manager, is in possession of, or has control over, property of the corporation;</td></tr><tr id="pr3-ps1-p1j-p2ii-"><td class="p2No">(ii)</td><td class="p2Txt">the corporation is under judicial management (where applicable);</td></tr><tr id="pr3-ps1-p1j-p2iii-"><td class="p2No">(iii)</td><td class="p2Txt">a compromise or an arrangement made between the corporation and another person or other persons is being administered; or</td></tr><tr id="pr3-ps1-p1j-p2iv-"><td class="p2No">(iv)</td><td class="p2Txt">the corporation or (if it is an umbrella VCC) the corporation or any of its sub‑funds, is being wound up,</td></tr></table><table width="100%"><tr><td class="p1SO" style="font-size:13pt">and includes any conduct of the receiver, the receiver and manager, or the judicial manager of the person administering the compromise or arrangement or of any liquidator or provisional liquidator of the corporation or sub‑fund (where applicable);</td></tr></table></td></tr><tr><td class="p1No">(<em>k</em>)</td><td class="pTxt">the ownership of shares in, debentures of, and interests issued by, the corporation;</td></tr><tr><td class="p1No">(<em>l</em>)</td><td class="pTxt">the power of persons to exercise, or to control the exercise of, the rights to vote attached to shares in the corporation or to dispose of, or to exercise control over the disposal of, such shares;</td></tr><tr><td class="p1No">(<em>m</em>)</td><td class="pTxt">matters concerned with the ascertainment of the persons who are or have been financially interested in the success or failure, or apparent success or failure, of the corporation or are or have been able to control or materially influence the policy of the corporation;</td></tr><tr><td class="p1No">(<em>n</em>)</td><td class="pTxt">the circumstances under which a person acquired or disposed of, or became entitled to acquire or dispose of, shares in, debentures of, or interests issued by, the corporation;</td></tr><tr><td class="p1No">(<em>o</em>)</td><td class="pTxt">where the corporation has issued interests, matters concerning the financial or business undertaking, scheme, common enterprise or investment contract to which those interests relate; and</td></tr><tr><td class="p1No">(<em>p</em>)</td><td class="pTxt">matters relating to or arising out of the audit of, or working papers or reports of an auditor concerning, any matters in paragraphs (<em>g</em>) to (<em>o</em>).</td></tr></table></span><a name="pr3-ps2-"></a><table width="100%"><tr><td class="prov2Txt">(2)  Unless the context otherwise requires, a reference to the affairs of a sub‑fund in the following provisions:<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">section 114(5)(<em>a</em>)(ii);</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">section 145;</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">paragraph (<em>f</em>) of the provision that replaces section 254(1) of the Companies Act because of paragraph 14 of the First Schedule;</td></tr><tr><td class="p1No">(<em>d</em>)</td><td class="pTxt">paragraph 19 of the First Schedule,</td></tr></table><table width="100%"><tr><td class="prov1N2SO" style="font-size:13pt">is a reference to —</td></tr></table><table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>e</em>)</td><td class="pTxt">the promotion, formation, control, business, trading, transactions and dealings of the sub‑fund (whether by the umbrella VCC alone or jointly with another person and including transactions and dealings as agent, bailee or trustee), property of the sub‑fund (whether held by the umbrella VCC alone or jointly with another person and including property held as agent, bailee or trustee), liabilities of the sub‑fund (including liabilities owed by the umbrella VCC jointly with another person and liabilities as trustee), profits and other income, receipts, losses, outgoings and expenditure of the umbrella VCC received or incurred for the purpose of the sub‑fund;</td></tr><tr><td class="p1No">(<em>f</em>)</td><td class="pTxt">the internal management and proceeding of the umbrella VCC in respect of the sub‑fund;</td></tr><tr><td class="p1No">(<em>g</em>)</td><td class="pTxt">any act or thing done (including any contract made and any transaction entered into) —<table class="p2_1" style="font-size:13pt" width="100%"><tr id="pr3-ps2-p1g-p2i-"><td class="p2No">(i)</td><td class="p2Txt">by the umbrella VCC for the purpose of the sub‑fund; or</td></tr><tr id="pr3-ps2-p1g-p2ii-"><td class="p2No">(ii)</td><td class="p2Txt">to or in relation to the umbrella VCC in respect of the sub‑fund or the business or property of the sub‑fund,</td></tr></table><table width="100%"><tr><td class="p1SO" style="font-size:13pt">at a time when —</td></tr></table><table class="p2_1" style="font-size:13pt" width="100%"><tr id="pr3-ps2-p1g-p2iii-"><td class="p2No">(iii)</td><td class="p2Txt">a receiver, or a receiver and manager, is in possession of, or has control over, property of the sub‑fund;</td></tr><tr id="pr3-ps2-p1g-p2iv-"><td class="p2No">(iv)</td><td class="p2Txt">a compromise or an arrangement made between the umbrella VCC (for the purpose of the sub‑fund) and the creditors of the sub‑fund (or any class of them), members holding shares issued in respect of that sub‑fund (or any class of them), or another person or other persons, is being administered; or</td></tr><tr id="pr3-ps2-p1g-p2v-"><td class="p2No">(v)</td><td class="p2Txt">the sub-fund is being wound up,</td></tr></table><table width="100%"><tr><td class="p1SO" style="font-size:13pt">and includes any conduct of the receiver, the receiver and manager, of the person administering the compromise or arrangement or of any liquidator or provisional liquidator of the sub‑fund, as the case may be;</td></tr></table></td></tr><tr><td class="p1No">(<em>h</em>)</td><td class="pTxt">the ownership of shares in and interests issued by the umbrella VCC in respect of the sub‑fund, or the debentures of the sub‑fund;</td></tr><tr><td class="p1No">(<em>i</em>)</td><td class="pTxt">the power of persons to exercise, or to control the exercise of, the rights to vote attached to shares issued by the umbrella VCC in respect of the sub‑fund, or to dispose of, or to exercise control over the disposal of, such shares;</td></tr><tr><td class="p1No">(<em>j</em>)</td><td class="pTxt">matters concerned with the ascertainment of the persons who are or have been financially interested in the success or failure, or apparent success or failure, of the sub‑fund or are or have been able to control or materially influence the policy of the umbrella VCC in relation to the sub‑fund;</td></tr><tr><td class="p1No">(<em>k</em>)</td><td class="pTxt">the circumstances under which a person acquired or disposed of, or became entitled to acquire or dispose of, shares in or interests issued by the umbrella VCC in respect of the sub‑fund, or the debentures of the sub‑fund;</td></tr><tr><td class="p1No">(<em>l</em>)</td><td class="pTxt">matters concerning the financial or business undertaking, scheme, common enterprise or investment contract to which the shares of the umbrella VCC in respect of the sub-fund relate; and</td></tr><tr><td class="p1No">(<em>m</em>)</td><td class="pTxt">matters relating to or arising out of the audit of, or working papers or reports of an auditor concerning, any matters in paragraphs (<em>e</em>) to (<em>l</em>).<div class="amendNote">[28/2019]</div></td></tr></table></td></tr></table></td></tr></table></div><div class="prov1"><table width="100%"><tr><td class="prov1Hdr" id="pr4-"><span class="noBold"></span><span class="">When corporations related to each other</span></td></tr></table><table width="100%"><tr><td class="prov1Txt"><strong>4.</strong>  For the purposes of this Act, where a corporation —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">is the holding company of another corporation;</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">is a subsidiary of another corporation; or</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">is a subsidiary of the holding company of another corporation,</td></tr></table><table width="100%"><tr><td class="prov1N2SO" style="font-size:13pt">then the firstmentioned corporation and the other corporation are treated as related to each other.</td></tr></table></td></tr></table></div><div class="prov1"><table width="100%"><tr><td class="prov1Hdr" id="pr5-"><span class="noBold"></span><span class="">Purpose of Act and application of Companies Act provisions in this Act</span></td></tr></table><table width="100%"><tr><td class="prov1Txt"><strong>5.</strong><a name="pr5-ps1-"></a><span class="prov2TxtIL">—(1)  The purpose of this Act is to enable a body corporate known as a variable capital company or VCC, to be formed, and to provide for its operation and regulation.</span><a name="pr5-ps2-"></a><table width="100%"><tr><td class="prov2Txt">(2)  This Act (except for Part 7) applies the provisions of the Companies Act subject to the modifications set out by this Act.</td></tr></table><a name="pr5-ps3-"></a><table width="100%"><tr><td class="prov2Txt">(3)  Where a provision of the Companies Act 1967 (called in this section an incorporated provision) is incorporated by reference in this Act, whether with or without modifications, then, in addition to any specific modifications set out in this Act —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">the incorporated provision applies with the necessary modifications;</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">a reference in the incorporated provision to another incorporated provision is to that other provision as applied by this Act;</td></tr><tr><td class="p1No">(<em>c</em>)</td><td class="pTxt">a reference in the incorporated provision to the Registrar of Companies is to the Registrar;</td></tr><tr><td class="p1No">(<em>d</em>)</td><td class="pTxt">subject to section 2(5), a reference in the incorporated provision to the Minister is to the Minister having charge of this Act;</td></tr><tr><td class="p1No">(<em>e</em>)</td><td class="pTxt">a reference in the incorporated provision to the Authority is to ACRA;</td></tr><tr><td class="p1No">(<em>f</em>)</td><td class="pTxt">a reference in the incorporated provision to a default penalty is to the default penalty in section 147;</td></tr><tr><td class="p1No">(<em>g</em>)</td><td class="pTxt">a reference in the incorporated provision to a prescribed matter is to the matter prescribed by regulations made under section 165; and</td></tr><tr><td class="p1No">(<em>h</em>)</td><td class="pTxt">the incorporated provision applies subject to such other modifications as may be prescribed by regulations made under subsection (4).</td></tr></table></td></tr></table><a name="pr5-ps4-"></a><table width="100%"><tr><td class="prov2Txt">(4)  The Minister may, for a period of 2 years starting on 14 January 2020, make regulations to prescribe further modifications to an incorporated provision in its application by this Act.</td></tr></table></td></tr></table></div><div class="prov1"><table width="100%"><tr><td class="prov1Hdr" id="pr6-"><span class="noBold"></span><span class="">Application of Companies Act 1967 to VCC, etc.</span></td></tr></table><table width="100%"><tr><td class="prov1Txt"><strong>6.</strong><a name="pr6-ps1-"></a><span class="prov2TxtIL">—(1)  Where a provision of the Companies Act 1967 is incorporated by reference in this Act and applies to or in relation to a VCC, a person of a VCC or a matter concerning a VCC, as that Companies Act 1967 provision applies to or in relation to a corporation, a person of a corporation or a matter concerning a corporation, then (despite a VCC being a corporation within the meaning of the Companies Act 1967) the Companies Act 1967 provision is disapplied, but only to the extent of such application in this Act.</span><a name="pr6-ps2-"></a><table width="100%"><tr><td class="prov2Txt">(2)  Where a provision of the Companies Act 1967 has a corresponding provision in this Act that applies to or in relation to a VCC, a person of a VCC or a matter concerning a VCC, as that Companies Act 1967 provision applies to or in relation to a corporation, a person of a corporation or a matter concerning a corporation, then (despite a VCC being a corporation within the meaning of the Companies Act 1967) the Companies Act 1967 provision is disapplied, but only to the extent of such application in the corresponding provision.</td></tr></table><a name="pr6-ps3-"></a><table width="100%"><tr><td class="prov2Txt">(3)  Despite anything in the Companies Act 1967 —<table class="p1_1" style="font-size:13pt" width="100%"><tr><td class="p1No">(<em>a</em>)</td><td class="pTxt">Division 5 of Part 10 of that Act does not apply for the purpose of the winding up of a VCC or a sub‑fund of an umbrella VCC; and</td></tr><tr><td class="p1No">(<em>b</em>)</td><td class="pTxt">Division 6 of Part 10 of that Act does not apply to any proceedings concerning a VCC or a sub‑fund of an umbrella VCC.</td></tr></table></td></tr></table></td></tr></table></div></td></tr></table><div class="dms" data-field="seriesId" data-term="a09e1e52-79f2-480b-98ec-633df355a2ea"></div><div class="dms" data-field="seriesId" data-term="e4ab182b-3110-417e-8da7-2045c271a61a"></div><div class="dms" data-field="seriesId" data-term="308e0c63-6fd7-4a73-9b68-f4ec6188ff92"></div><div class="dms" data-field="seriesId" 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Variable Capital Companies Act 2018 - Singapore Statutes Online