Statutory Obligations

A director of a VCC has to comply with a number of statutory obligations under the VCC Act. Some of these key obligations include the following: 

Annual General Meeting

VCCs are required to hold an Annual General Meeting (AGM) unless certain conditions for dispensation are met. More information will be provided in due course when the VCC e-filing system is launched later this year. 

Annual Return

All VCCs must file their annual return within 7 months after the closing of their financial year end. More information will be provided in due course when the VCC e-filing system launches later this year. 

Electronic Registers of Directors, Secretaries, Managers and Auditors

Similarly, VCCs must maintain electronic registers of directors, secretaries, managers and auditors with ACRA. VCCs are required to update ACRA within 14 days if there are changes to the appointed officers. 

Changes in VCC/Sub-fund Information

VCCs are required to update ACRA within 14 days if there are changes to the VCC’s/sub-fund’s information such as name or address. 

Changes in Personal Particulars of VCC Officers

VCCs are required to update ACRA within 14 days of any changes to the contact details (i.e. contact number and email address) and address of VCC officers. 

VCC officers who are foreigners are required to update ACRA within 14 days of any changes to their personal particulars, contact details and address.

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