Section 96

Unless the contrary intention appears, in this Part (including the provisions of the Companies Act 1967 applied by this Part) —“accounting records”, in relation to a VCC or its sub‑fund, includes such working papers and other documents as are necessary to explain the methods and calculations by which the accounts of the VCC or sub‑fund (as the case may be) are made up;“balance sheet”, in relation to a VCC, means the balance sheet (by whatever name called) of the VCC prepared in accordance with the Accounting Standards;“directors’ statement” means the statement of the directors mentioned in section 201(16) of the Companies Act 1967 as applied by section 100(6);“group” has the meaning given by the Accounting Standards;“parent company” means a company or VCC that is required under the Accounting Standards to prepare financial statements in relation to a group;“subsidiary company” means a company or VCC that is a subsidiary as defined in the Accounting Standards;“subsidiary corporation” means a corporation that is a subsidiary as defined in the Accounting Standards;“ultimate parent corporation” means a corporation that is a parent but not a subsidiary, within the meaning of the Accounting Standards.