Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 3 · Constitution of Vcc
17. Members of VCC
Feedback & supportThe subscribers to the constitution of a VCC are considered to have agreed to become members of the VCC and, on the incorporation of the VCC, must be entered as members in the register of members.
constitution
“constitution”, in relation to a VCC, means the constitution of the VCC that is registered with the Registrar under section 16(4), as may be amended from time to time;
Apart from the subscribers, every other person who agrees to become a member of the VCC and whose name is entered in the register of members is a member of the VCC.
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
The liability of a member of a VCC is limited to the amount (if any) unpaid on the shares held by the member.
Subsection (3) does not affect any other liability to which a member may be subject under this Act.