Fees (Winding up and Dissolution of Companies and Other Bodies) (Amendment) Order 2020

Status:

Published in Subsidiary Legislation Supplement
on 14 Jul 2020

No. S 549

Fees Act

(CHAPTER 106)

Fees
(Winding up and Dissolution of
Companies and Other Bodies)
(Amendment) Order 2020

In exercise of the powers conferred by section 2 of the Fees Act, the Minister for Finance makes the following Order:

Citation

1. This Order is the Fees (Winding up and Dissolution of Companies and Other Bodies) (Amendment) Order 2020.

New paragraph 1A

2. The Fees (Winding up and Dissolution of Companies and Other Bodies) Order 2005 (G.N. No. S 58/2005) (called in this Order the principal Order) is amended by inserting, immediately after paragraph 1, the following paragraph:

“Definitions

1A. In this Order —

“company” has the meaning given by section 4(1) of the Companies Act (Cap. 50);

“sub-fund” and “umbrella VCC” have the meanings given by section 2(1) of the VCC Act;

“VCC” or “variable capital company” has the meaning given by section 2(1) of the VCC Act;

“VCC Act” means the Variable Capital Companies Act 2018 (Act 44 of 2018).”.

Amendment of paragraph 2

3. Paragraph 2 of the principal Order is amended —

(a)

by inserting, immediately after the words “or unregistered company” in sub‑paragraph (a)(i), the words “under Part X of the Companies Act”;

(b)

by deleting the word “and” at the end of sub‑paragraph (a)(iv);

(c)

by inserting, immediately after sub‑paragraph (v) of sub‑paragraph (a), the following sub‑paragraphs:

“(vi)	any VCC under Part X of the Companies Act as applied by section 130(1) of the VCC Act; and
(vii)	any sub‑fund of an umbrella VCC under Part X of the Companies Act as applied by section 33(2) of the VCC Act;”;

(d)

by deleting the word “and” at the end of sub‑paragraph (b)(i);

(e)

by deleting the word “and” at the end of sub‑paragraph (ii) of sub‑paragraph (b), and by inserting immediately thereafter the following sub‑paragraphs:

“(iii)	as a representative of a defunct sub‑fund of an umbrella VCC under section 345 or 347 of the Companies Act as applied by section 33(2) of the VCC Act; and
(iv)	as a representative of a defunct VCC under section 345 or 347 of the Companies Act as applied by section 130(1) of the VCC Act; and”;

(f)

by deleting the word “and” at the end of sub‑paragraph (c)(ii); and

(g)

by deleting the full‑stop at the end of sub‑paragraph (iii) of sub‑paragraph (c) and substituting the word “; and”, and by inserting immediately thereafter the following sub‑paragraph:

“(iv)

under section 322 of the Companies Act as applied by —

(A)	in the case of a sub‑fund of an umbrella VCC — section 33(2) of the VCC Act; or
(B)	in the case of a VCC — section 130(1) of the VCC Act.”.

Amendment of Schedule

4. The Schedule to the principal Order is amended —

(a)

by deleting the words “or trade union” in items (2) and (11)(b) and (c) and substituting in each case the words “, trade union, VCC or sub‑fund of an umbrella VCC”;

(b)

by inserting, immediately after item (12C), the following items:

“(12D)

Every application for the payment of moneys out of a Sub‑fund Liquidation Account under section 322(6) of the Companies Act (as applied by section 33(2) of the VCC Act) to the Official Receiver

$10

(12E)

Every application for the payment of moneys out of a VCC Liquidation Account under section 322(6) of the Companies Act (as applied by section 130(1) of the VCC Act) to the Official Receiver

$10”;

(c)

by inserting, immediately after item (14B), the following items:

“(14C)

On every payment of moneys out of a Sub‑fund Liquidation Account or the Consolidated Fund under section 322(6) of the Companies Act as applied by section 33(2) of the VCC Act

$10

(14D)

On every payment of moneys out of a VCC Liquidation Account or the Consolidated Fund under section 322(6) of the Companies Act as applied by section 130(1) of the VCC Act

$10”;

(d)

by inserting, immediately after item (19A), the following items:

“(19B)

For every act done by the Official Receiver as a representative of a defunct sub‑fund of an umbrella VCC under section 345 or 347 of the Companies Act as applied by section 33(2) of the VCC Act

$25

(19C)

For every act done by the Official Receiver as a representative of a defunct VCC under section 345 or 347 of the Companies Act as applied by section 130(1) of the VCC Act

$25”; and

(e)

by deleting the words “or trade union” in paragraph 2 of the Notes and substituting the words “, trade union, VCC or sub‑fund of an umbrella VCC”.

[G.N. Nos. S 64/2006; S 50/2007; S 748/2011; S 594/2013; S 1/2017; S 462/2018]

Made on 12 July 2020.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R30.4.303; IPTO/CID/VCC FEES/2020; AG/LEGIS/SL/106/2015/4 Vol. 1]

(To be presented to Parliament under section 3 of the Fees Act).

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