Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 8 · Annual Return, Financial Statements and Audit
107. Appointment and remuneration of auditors
Feedback & supportSubject to section 5 and subsection (2), section 205 (except subsection (12A)) of the Companies Act 1967 applies in relation to a VCC as it applies in relation to a company.
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
Where a VCC need not hold an annual general meeting for a financial year under section 78(1), and the auditor or auditors of the VCC is or are appointed by a resolution by written means under section 184A of the Companies Act 1967 (as applied by section 80(3)) by reason of section 78(7), the references in section 205(11) and (12) of the Companies Act 1967 to the date of an annual general meeting are to the time —
financial year
“financial year”, in relation to a VCC, means —(a)the period in respect of which its financial statements are made up, whether that period is a year or not; and(b)which is determined in accordance with section 98;
agreement to the resolution is sought in accordance with section 184C of the Companies Act 1967 (as applied by section 80(3)); or
documents mentioned in section 183(3A) of the Companies Act 1967 (as applied by section 80(1)) in respect of the resolution are served or made accessible in accordance with section 183(3A) of that Act (as applied by section 80(1)),as the case may be.