Regulation 2

In these Regulations —“auditor”, in relation to a VCC, means the accounting entity or accounting entities appointed as the auditor or auditors of the VCC under section 205 of the Companies Act (Cap. 50) as applied by section 107(1) of the VCC Act;“balance sheet”, in relation to a VCC, means the balance sheet (by whatever name called) of the VCC prepared in accordance with the Accounting Standards;“date of revision” means the date on which the directors of the VCC approve the revised financial statements, or the revised consolidated financial statements or balance sheet, of the VCC;“date of the original financial statements, or the original consolidated financial statements and balance sheet” means the date on which the original directors’ statement was signed on behalf of the directors of the VCC;“directors’ statement” means the statement of the directors mentioned in section 201(16) of the Companies Act as applied by section 100(6) of the VCC Act;“financial year”, in relation to a VCC, means the financial year of the VCC determined in accordance with section 98 of the VCC Act;“new directors’ statement” means the statement that is made in accordance with regulation 4(2)(g)(i) and containing the statements and information mentioned in regulations 4(2)(g)(ii), (iii), (iv) and (v) and 6(2)(a), (b), (c) and (d);“original”, in relation to any financial statements, or any consolidated financial statements or balance sheet, of a VCC, means the financial statements, or the consolidated financial statements or balance sheet, of the VCC that are the subject of revision under section 202A or 202B(4) of the Companies Act as applied by section 104 of the VCC Act;“parent company” has the meaning given by section 96 of the VCC Act;“revised”, in relation to any financial statements, or any consolidated financial statements or balance sheet, of a VCC, means the resulting financial statements, or the resulting consolidated financial statements or balance sheet, of the VCC after being revised under section 202A or 202B(4) of the Companies Act as applied by section 104 of the VCC Act;“VCC Act” means the Variable Capital Companies Act 2018.