Company: VCIG
Filing Date: 2025-09-25
Form Type: F-3
Source: 0001213900-25-091277
Chunk: 38

Company: VCI Global Ltd
Filing Date: 2025-09-25
Form: F-3
Chunk 38
---
able transaction provision set out above is as follows:

| (a) | for the purposes of sections                                                                                                            
 245, 246 and 247 of the Insolvency Act the period differs depending on whether the person(s) that the transaction is entered into with, 
 or the preference is given to, are “connected persons” of the company within the meaning of the Insolvency Act:                         |

| (i) | in the case of “connected                                                                                
 persons” the “hardening period” is the period beginning two years prior to the “onset of insolvency” and 
 ending on the appointment of a liquidator of the company; and                                            |

| (ii) | in the case of any other person,                                                                               
 the “hardening period” is the period beginning six months prior to the “onset of insolvency” and ending on the 
 appointment of a liquidator of the company; and                                                                |

| (b) | for the purposes of section                                                                                                           
 248 of the Insolvency Act the “hardening period” is the period beginning five years prior to the “onset of insolvency”                
 and ending on the appointment of a liquidator of the company regardless of whether the person(s) that the transaction is entered into 
 with is a connected person.                                                                                                           |

<div align='center'>19</div>

The onset of insolvency for these purposes is
the date on which an application for the appointment of a liquidator was filed (if the liquidator was appointed by the court) or the date
of the appointment of the liquidator (where the liquidator was appointed by the members).

A conveyance made by a person with intent to defraud
creditors is voidable at the instance of the person thereby prejudiced. There is no requirement that the relevant transaction was entered
into at a time when one party was insolvent or became insolvent as a result of the transaction, and there is no requirement that the transferring
party subsequently went into liquidation. However, no conveyance entered into for valuable consideration and in good faith to a person
who did not have notice of the intention to defraud may be impugned.

The court has authority to order winding up in
a number of specified circumstances including where it is, in the opinion of the court, just and equitable to do so. Under the BVI Act
and our amended and restated articles of association, our company may be dissolved, liquidated or wound up by a resolution of our shareholders.