Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 8 · Annual Return, Financial Statements and Audit
97. Annual return
Feedback & supportLast amended by an amending law of 2025.
Every VCC must lodge a return with the Registrar after its annual general meeting and within 7 months after the end of its financial year.
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
The Registrar may, if the Registrar thinks there are special reasons to do so, extend any period within which a VCC must lodge a return under subsection (1) —
Registrar
“Registrar” means the Registrar of VCCs appointed under this Act, and includes any Deputy or Assistant Registrar of VCCs;
upon an application by the VCC; or
in respect of any prescribed class of VCCs.
The return in subsection (1) —
must be in such form;
must contain such particulars and information; and
must be accompanied by such documents,as may be prescribed.
The particulars to be contained in, and the documents that are to accompany, the return in subsection (1) may differ according to the class or description of VCC prescribed.
If a VCC is required under section 78(4) to hold an annual general meeting for a financial year after it has lodged its annual return for that financial year, the VCC must lodge a notice of the date on which the annual general meeting was held with the Registrar within 14 days after that date.
financial year
“financial year”, in relation to a VCC, means —(a)the period in respect of which its financial statements are made up, whether that period is a year or not; and(b)which is determined in accordance with section 98;
If a VCC fails to comply with this section, the VCC and every officer of the VCC who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $10,000, and also to a default penalty.
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);