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VCC Bill introduced in Parliament as MAS finalises the fund framework
By VCCGuide Editorial
Reviewed by the fund management team at JCube Capital Partners (JCP), a Monetary Authority of Singapore capital markets services licence holder (Licence No. CMS100895).
What changed?
On 10 September 2018, the Variable Capital Companies Bill was moved for First Reading in Parliament, and MAS published its response to the March 2017 public consultation on the proposed framework. The response confirmed the design choices that define the VCC today: umbrella funds with segregated sub-funds, capital that varies with subscriptions and redemptions, and a requirement that every VCC appoint an MAS-regulated fund manager.
Why it matters for fund managers
This is the formal start of the VCC's legislative journey and the definitive record of why the structure works the way it does. MAS's explanatory brief framed the goal plainly: give fund managers a corporate vehicle tailored to investment funds so they domicile funds in Singapore rather than in offshore centres.
Primary sources
- MAS explanatory brief on the VCC Bill, 10 September 2018Accessed 20 July 2026
- MAS response to consultation P006-2017 on the proposed VCC frameworkAccessed 20 July 2026