Clause 70
Officer liability, insurance and third party indemnity
of Variable Capital Companies Bill
BillNot in forceProvision 70 of 170
Clause 70
Sections 172, 172A and 172B of the Companies Act 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 to section 76A(13) of that Act is omitted;
(b)
the reference in section 172B(1)(b)(ii) of the Companies Act to a related company is to a company that is a related corporation of the VCC.