Section 70
Officer liability, insurance and third party indemnity
of Variable Capital Companies Act 2018
ActIn forceProvision 72 of 172
Section 70
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:
(a)
the reference in section 172B(4) of the Companies Act 1967 to section 76A(13) of that Act is omitted;
(b)
the reference in section 172B(1)(b)(ii) of the Companies Act 1967 to a related company is to a company that is a related corporation of the VCC.