Consultation Paper on the Proposed Framework for Variable Capital Companies Part 2
This consultation sets out MAS' proposed subsidiary legislation for a new corporate structure that is tailored for collective investment schemes, known as the variable capital company (VCC).
Sets out the best practices that managers, approved trustees, VCC directors and VCC custodians of collective investment schemes offered to retail public are expected to observe on management, operation and marketing of the schemes.
This consultation sets out MAS’ proposed regulations relating to anti-money laundering and countering the financing of terrorism, applicable to variable capital companies incorporated under the Variable Capital Companies Act.
Sets out the requirements for an offer of units in a collective investment scheme, including amongst others, covenants to be included in the trust deed, the prescribed contents in a prospectus, advertising requirements, and restricted schemes.