Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 13 · General Provisions
150. Electronic transmission of documents
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Subject to subsections (2), (3) and (4) and section 5, sections 387A, 387B and 387C (except subsections (3) and (4)) of the Companies Act 1967 apply in relation to any notice of meeting, accounts, balance sheet, financial statements, report or other document required or permitted to be given, sent or served under this Act or under the constitution of a VCC, as they apply in relation to a similar document that is required or permitted to be given, sent or served under the Companies Act 1967 or under the constitution of a company.
accounts
“accounts” means profit and loss accounts and balance sheets and includes notes (other than auditors’ reports or directors’ reports) attached or intended to be read with any of those profit and loss accounts or balance sheets;
In sections 387B and 387C of the Companies Act 1967, “financial statements” means the financial statements or consolidated financial statements (as the case may be) required to be prepared under Part 8.
financial statements
“financial statements”, in relation to a VCC, means the financial statements of the VCC required to be prepared in accordance with the Accounting Standards;
Subject to the regulations mentioned in subsection (4), a member of a VCC is treated as having consented to be given, sent or served using electronic communications, a notice or document mentioned in section 387C(1) of the Companies Act 1967 as applied by subsection (1), if —
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
the VCC gave to the member by written notice an opportunity to elect, within a period specified in the notice, whether to receive the notice or document by way of electronic communications or as a physical copy; and
the member failed to make an election within the specified period.
For the purposes of subsection (1), the Minister may make regulations under section 165 for the same matters as those in section 387C(4) of the Companies Act 1967.