Legal obligations: Variable capital company (VCC) director

Learn your key responsibilities as a VCC's director.

Last updated 29 January 2026

Key duties and obligations

VCC directors must meet these duties and obligations under the VCC Act 2018 (opens in new tab). Otherwise, they may face penalties or enforcement action.

VCC directors' duties

Duties	Details
Hold annual general meetings (AGMs), unless exempt	You must hold an AGM within six months of your financial year end (FYE). More details: Penalties for not holding an AGM
File annual returns	You must file annual returns within seven months of your FYE. More details: Penalties & enforcement action for late annual returns
Maintain company information and registers	You must update your VCC information to: Maintain electronic registers of your VCC officers Report changes to your VCC, sub-fund, or VCC officers within 14 days

Duties

Details

Hold annual general meetings (AGMs), unless exempt

You must hold an AGM within six months of your financial year end (FYE).

More details: Penalties for not holding an AGM

File annual returns

You must file annual returns within seven months of your FYE.

More details: Penalties & enforcement action for late annual returns

Maintain company information and registers

You must update your VCC information to:

Maintain electronic registers of your VCC officers
Report changes to your VCC, sub-fund, or VCC officers within 14 days