Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 9 · Investigations
118. Suspension of actions and proceedings in respect of VCC
Feedback & supportLast amended by an amending law of 2019.
Section 240 of the Companies Act 1967 applies in relation to a declared VCC as it applies in relation to a declared company under Part 9 of that Act, subject to section 5 and subsection (2).
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
Where the investigation relates solely to a sub-fund of an umbrella VCC that is a declared VCC, then section 240 of the Companies Act 1967 only applies to an action or proceeding in respect of any instrument mentioned in that section that is made, drawn or accepted by, or issued, transferred, negotiated or endorsed by or to the VCC for the purpose of the sub‑fund.
sub-fund
“sub-fund” means a collective investment scheme that is part of an umbrella VCC;