The Modification of the Law (British Steel Limited Property Transfer) Regulations 2026
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Change 1
6 Shadow directorship
(1) Paragraph (2) applies while BCo is wholly owned by the Secretary of State or by a group undertaking wholly owned by the Secretary of State. (2) A relevant person is not to be treated as— (a) a shadow director of BCo, or of any group undertaking of BCo, for the purposes of the provisions listed in the Schedule; (b) a person discharging or purporting to discharge managerial responsibilities in respect of BCo, or in respect of any group undertaking of BCo, for the purposes of the provisions listed in the Schedule unless that person has been appointed as a director; (c) an officer or a person purporting to act as an officer of BCo, or of any group undertaking of BCo, for the purposes of the provisions listed in the Schedule unless that person has been appointed as a director. (3) In paragraph (2), a “relevant person” is any of— (a) a Minister of the Crown; (b) the Treasury; (c) UK Government Investments Limited (company number 09774296); (d) a person— (i) employed by or under, or (ii) acting on the behalf of, any of the persons specified in sub-paragraphs (a) to (c). (4) In this regulation— “director” has the same meaning as in the Companies Act 2006; “officer” means a director, manager, secretary or other similar officer, or a person purporting to act in any such capacity; “shadow director” has the meaning given in section 251 of the Companies Act 2006.
6 Shadow directorship
(1) Paragraph (2) applies while BCo is wholly owned by the Secretary of State or by a group undertaking wholly owned by the Secretary of State. (2) A relevant person is not to be treated as— (a) a shadow director of BCo, or of any group undertaking of BCo, for the purposes of the provisions listed in the Schedule; (b) a person discharging or purporting to discharge managerial responsibilities in respect of BCo, or in respect of any group undertaking of BCo, for the purposes of the provisions listed in the Schedule unless that person has been appointed as a director; (c) an officer or a person purporting to act as an officer of BCo, or of any group undertaking of BCo, for the purposes of the provisions listed in the Schedule unless that person has been appointed as a director. (3) In paragraph (2), a “relevant person” is any of— (a) a Minister of the Crown; (b) the Treasury; (c) UK Government Investments Limited (company number 09774296); (d) a person— (i) employed by or under, or (ii) acting on the behalf of, any of the persons specified in sub-paragraphs (a) to (c). (4) In this regulation— “director” has the same meaning as in the Companies Act 2006; “officer” means a director, manager, secretary or other similar officer, or a person purporting to act in any such capacity; “shadow director” has the meaning given in section 251 of the Companies Act 2006.
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