Regulation 2

by inserting, immediately after the definition of “committee member” in section 2, the following definition:“ “company” has the meaning given by section 4(1) of the Companies Act (Cap. 50);”;

by deleting the word “or” at the end of section 12(2)(d)(i);

by inserting, immediately after sub‑paragraph (ii) of section 12(2)(d), the following sub‑paragraphs:“(iii)disqualified under section 58(1) of the Variable Capital Companies Act 2018 (Act 44 of 2018) from acting as a director, or taking part (whether directly or indirectly) in the management of a VCC during the period of disqualification in that provision; or

disqualified by a court order under section 56(1), 57(1) or 58(2) of the Variable Capital Companies Act 2018 from being a director or in any way (whether directly or indirectly) being concerned in, or taking part in, the management of a VCC during the period of disqualification in the court order;”; and

by inserting, immediately after subsection (2) of section 12, the following subsection:“(3) In this section, “VCC” has the meaning given by section 2(1) of the VCC Act.”.