Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 13 · General Provisions
146. Obtaining payment, etc., to VCC by false promise of officer or agent of VCC
Feedback & supportA person who, while an officer, the manager or an agent of a VCC, by any deceitful means or false promise and with intent to defraud, causes or procures any money to be paid, or any chattel or marketable security to be delivered to the VCC or to the person or any other person for the use or benefit or on account of the VCC or its sub‑funds (if any), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $15,000 or to imprisonment for a term not exceeding 5 years or to both.
officer
“officer”, in relation to a VCC or other corporation, includes —(a)any director or secretary of the corporation or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)any liquidator of the corporation (being a VCC or company) appointed in a voluntary winding up,but does not include —(d)any receiver who is not also a manager;(e)any receiver and manager appointed by the Court;(f)any liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed by the Court under Part 8A of the Companies Act 1967 (if applicable);
In a proceeding for an offence under subsection (1), the opinion of a registered or public accountant as to the financial position of a VCC or its sub‑funds (if any) at any time or during any period in respect of which the accountant has made an audit or examination of its affairs according to recognised audit practice, is admissible either for the prosecution or the defence as evidence of the financial position of the VCC or its sub‑funds at that time or during that period.
public accountant
“public accountant” means a person who is registered or treated as registered under the Accountants Act 2004 as a public accountant;
Subsection (2) applies even if the opinion is based in whole or in part on book‑entries, documents or vouchers or on written or verbal statements by other persons.