Division 1 — Preliminary

44 Interpretation of this Part

Division 2 — Office and Name

45 Registered office, office hours, and publication of name and registration number

Division 3 — Managers

46 Manager

47 Restrictions on naming of manager in document or register

Division 4 — Directors and Secretaries

Subdivision 1 Preliminary provisions

48 VCC must have certain description of director, etc.

49 Restrictions on naming of director in document or register

50 Appointment of directors

51 Validity of acts of directors and secretary

52 Removal of director

Subdivision 2 Qualifications and disqualifications of directors and officers

53 Directors must be fit and proper persons

54 Qualification of director

55 Restriction on undischarged bankrupt

56 Disqualification of unfit director of insolvent VCC

57 Disqualification of director of VCC wound up on grounds of national security or interest

58 Disqualification of director on conviction of certain offences, etc.

59 Disqualification and debarment from being director or secretary in connection with default in filing documents under this Act

60 Disqualification for being director of not less than 3 VCCs that were struck off within 5‑year period

61 Disqualification under Limited Liability Partnerships Act and Companies Act

Subdivision 3 Duties and powers of directors, etc.

62 Disclosure by director of interests in transactions, property, offices, etc.

63 Duty and liability of officers, etc.

64 Powers of directors

65 Loans and quasi-loans to directors, credit transactions and related arrangements, etc., and related provisions

66 Register of director’s shareholdings

67 Disclosure of director’s emoluments and general duty to make disclosure

68 Payments to director for loss of office, and director’s emoluments

Subdivision 4 Secretaries

69 Secretary

Division 5 — Provisions Applicable to Officers

70 Officer liability, insurance and third party indemnity

71 Registers of directors, secretaries, auditors and managers

72 Duty to provide information

73 Duty to keep consents of directors, secretaries and managers

74 Self-notification in certain circumstances

75 Provision of residential address to Registrar

76 When residential address may be entered in register in place of alternate address

Division 6 — Meetings and Proceedings

77 Annual general meeting

78 When VCC need not hold annual general meeting

79 Convening of extraordinary general meeting on requisition and calling of meetings

80 Other provisions as to meetings and resolutions

Division 7 — Register of Members

81 Register of members

82 Inspection of register