Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 13 · General Provisions
155. Inspection of books of VCC and related provisions
Feedback & supportSections 8A to 8F and 8H of the Companies Act 1967 apply in relation to a VCC as they apply in relation to a corporation, 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 8A and 8D of the Companies Act 1967 to an officer of the corporation is to an officer or the manager of the VCC, the custodian of the VCC (being a non‑umbrella VCC) or the custodian of a sub‑fund of the VCC, and section 8D(4) of that Act applies accordingly;
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);
a reference in section 8A of the Companies Act 1967 to a person employed by the corporation is to a person employed by the VCC, or a person engaged by the VCC to provide any fund administration service;
corporation
“corporation” has the meaning given by section 4(1) of the Companies Act 1967 and (to avoid doubt) includes a VCC;
a reference in sections 8A, 8C and 8D of the Companies Act 1967 to the affairs of the corporation is to the affairs of the VCC;
a reference in sections 8C, 8F and 8H of the Companies Act 1967 to the Companies Act 1967 is to this Act (including a provision of the Companies Act 1967 applied by this Act);
a reference in section 8H of the Companies Act 1967 to an inspector appointed under Part 9 of the Companies Act 1967 is to an inspector appointed under Part 9;
a reference in section 8H of the Companies Act 1967 to proceedings for the winding up of a corporation under the Companies Act 1967 is to proceedings for the winding up of a VCC under Part 11 or a sub‑fund of an umbrella VCC under section 33; (g)to avoid doubt, section 8H of the Companies Act 1967 (as applied by this Act) does not affect the sharing of information under section 161.
umbrella VCC
“umbrella VCC” means a VCC the constitution of which provides that it consists of, or is to consist of, 2 or more collective investment schemes, or words to that effect;