103. Relief from requirements as to form and content of financial statements, consolidated financial statements and directors’ statement

Terms defined in s 2

• Accounting Standards

  Accounting Standards

  Defined · s 2

  “Accounting Standards”, in relation to a VCC, means —(a)the accounting standards mentioned in section 100(8)(a) or the accounting standards or practices prescribed under section 100(8)(b); or(b)where those accounting standards or practices (as the case may be) are substituted with other accounting standards under section 100(9) in relation to that VCC, the other accounting standards;

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• company

  company

  Defined · s 2

  “company” has the meaning given by section 4(1) of the Companies Act 1967;

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• consolidated financial statements

  consolidated financial statements

  Defined · s 2

  “consolidated financial statements” has the meaning given by the Accounting Standards;

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• financial statements

  financial statements

  Defined · s 2

  “financial statements”, in relation to a VCC, means the financial statements of the VCC required to be prepared in accordance with the Accounting Standards;

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• VCC

  VCC

  Defined · s 2

  “VCC” or “variable capital company” means a body corporate incorporated as such under this Act;

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