Clause 41
Amendment of section 113
of Variable Capital Companies (Miscellaneous Amendments) Bill
BillNot in forceProvision 40 of 68
Clause 41
Section 113(2) of the principal Act is amended by deleting sub‑paragraph (i) of paragraph (a) and substituting the following sub‑paragraph:“(i)not less than 200 members (excluding a subsidiary of the VCC if the subsidiary is registered as a member) or of members holding not less than 10% of the shares issued (excluding shares held by a subsidiary of the VCC under section 22(6) or (11), if any); or”.