Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 6 · Management and Administration
70. Officer liability, insurance and third party indemnity
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Sections 172, 172A and 172B of the Companies Act 1967 apply in relation to a VCC as they apply in relation to a company, subject to section 5 and the following modifications:
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
the reference in section 172B(4) of the Companies Act 1967 to section 76A(13) of that Act is omitted;
the reference in section 172B(1)(b)(ii) of the Companies Act 1967 to a company that is deemed to be related to the company by virtue of section 6 of that Act is to a company that is a related corporation of the VCC.
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;