Clause 158
Translations of instruments, etc.
of Variable Capital Companies Bill
BillNot in forceProvision 158 of 170
Clause 158
(1)
Subject to subsections (2) and (3) and section 5, section 397 of the Companies Act applies in relation to a VCC as it applies in relation to a company.
(2)
A reference in section 397(1) and (2) of the Companies Act to that Act is to this Act except Part 7.
(3)
A reference in section 397(3) of the Companies Act to that Act is to this Act including Part 7.
(4)
In section 397(3) of the Companies Act, “financial statements” means the financial statements or consolidated financial statements (as the case may be) required to be prepared under Part 8.