Clause 64
Powers of directors
of Variable Capital Companies Bill
BillNot in forceProvision 64 of 170
Clause 64
Sections 157A, 157B, 157C, 158 and 159 of the Companies Act apply in relation to a VCC and a director of a VCC as they apply in relation to a company and a director of a company, subject to section 5 and the following modifications:
(a)
the reference in section 157C(1)(b) of the Companies Act to a professional adviser or an expert includes the manager of the VCC; (b)section 159(b) of the Companies Act is omitted.