Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 13 · General Provisions
142. Personal remedies in cases of oppression or injustice, and derivative or representative action
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Sections 216 (except subsection (2)(e)), 216A and 216B of the Companies Act 1967 apply in relation to a VCC as they apply in relation to a company, subject to section 5 and the following modifications:
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
a reference in sections 216 and 216A of the Companies Act 1967 to a declared company under Part 9 of that Act is to a declared VCC as defined in section 110;
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;
a reference in section 216 of the Companies Act 1967 to the affairs of the company is to the affairs of the VCC;
the reference in section 216(3) of the Companies Act 1967 to the provisions of the IRDA relating to the winding up of a company is to Part 11;
the reference in section 216(4) of the Companies Act 1967 to a provision of that Act is to a provision of this Act (including a provision of the Companies Act 1967 applied by this Act).