Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 6 · Management and Administration
74. Self-notification in certain circumstances
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Section 173E of the Companies Act 1967 applies to a director or secretary of a VCC as it applies to a director or secretary of a company, subject to section 5 and the following modifications:
director
“director” has the meaning given by section 4(1) of the Companies Act 1967;
the reference in section 173E(1) of the Companies Act 1967 to section 154(1) of that Act is to section 58(1);
the reference in section 173E(1) of the Companies Act 1967 to section 155A(1) of that Act is to section 60(1);
the reference in section 173E(1) of the Companies Act 1967 to section 155D(1) of that Act is to section 61(2);
the reference in section 173E(1) of the Companies Act 1967 to section 149 of that Act is to section 56;
the reference in section 173E(1) of the Companies Act 1967 to section 149A of that Act is to section 57;
the reference in section 173E(1) of the Companies Act 1967 to section 154(2) of that Act is to section 58(2).
A manager of a VCC that ceases to be a person mentioned in section 46(2) —
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;
must notify the VCC of the cessation as soon as practicable but not later than 14 days after the manager ceases to be such a person; and
may give the notice mentioned in section 173A(1)(b) of the Companies Act 1967 as applied by section 72 to the Registrar if the manager has reasonable cause to believe that the VCC will not do so.
The manager of a VCC the appointment of which is revoked or has otherwise ceased may give to the Registrar the notice mentioned in section 173A(1)(b) of the Companies Act 1967 as applied by section 72, if the manager has reasonable cause to believe that the VCC will not do so.
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
A manager that has changed its address entered in the register of managers may give to the Registrar the notice mentioned in section 173A(1)(c) of the Companies Act 1967 as applied by section 72, if the manager has reasonable cause to believe that the VCC will not do so.
register of managers
“register of managers” means a register of managers kept by the Registrar under section 71(3);