Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 13 · General Provisions
153. Power to grant relief
Feedback & supportSubject to section 5, section 391 of the Companies Act 1967 applies in relation to the following persons as it applies in relation to the persons mentioned in subsection (3) of that section:
officers of a VCC;
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
the manager of a VCC, the custodian of a VCC (being a non-umbrella VCC) or the custodian of a sub‑fund;
manager
“manager”, in relation to a VCC, means the manager appointed by the VCC to manage its property or to operate the collective investment scheme or schemes that comprise the VCC;
persons engaged by a VCC to provide any fund administration service;
fund administration service
“fund administration service” includes valuation, accounting, settlement of expenses and acting as a transfer agent;
persons engaged by a VCC as auditors, whether they are or are not officers of the VCC;
experts of a VCC;
persons who are receivers, receivers and managers or liquidators appointed or directed by the Court to carry out any duty under this Act in relation to a VCC or a sub-fund of an umbrella VCC, and all other persons so appointed or so directed.