The Bank Recovery and Resolution (No. 2) Order 2014
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Change 1
217 Shadow directorship
(1) A relevant person is not to be treated, in relation to a company under resolution, as— (a) a shadow director for the purposes of the enactments specified in paragraph (3); (b) a person who discharges managerial responsibilities for the purposes of those enactments (unless that person has been appointed as a director); or (c) a director by virtue of paragraph (b) of the definition of “director” given in section 417(1) of FSMA (a person in accordance with whose directions or instructions the directors of a body corporate are accustomed to act). (2) “Relevant persons” are— (a) the Bank; ... (b) persons who are employed by, or act on behalf of, the Bank. (c) a resolution administrator appointed under section 62B of the Banking Act 2009; and (d) a temporary manager appointed under section 71C of the Financial Services and Markets Act 2000. (3) The specified enactments are— (a) the Companies Act 2006; (b) the Insolvency Act 1986 ; (c) the Company Directors Disqualification Act 1986 ; and (d) FSMA.
217 Shadow directorship
(1) A relevant person is not to be treated, in relation to a company under resolution, as— (a) a shadow director for the purposes of the enactments specified in paragraph (3); (b) a person who discharges managerial responsibilities for the purposes of those enactments (unless that person has been appointed as a director); or (c) a director by virtue of paragraph (b) of the definition of “director” given in section 417(1) of FSMA (a person in accordance with whose directions or instructions the directors of a body corporate are accustomed to act). (2) “Relevant persons” are— (a) the Bank; ... (b) persons who are employed by, or act on behalf of, the Bank. (c) a resolution administrator appointed under section 62B of the Banking Act 2009; and (d) a temporary manager appointed under section 71C of the Financial Services and Markets Act 2000. (3) The specified enactments are— (a) the Companies Act 2006; (b) the Insolvency Act 1986 ; (c) the Company Directors Disqualification Act 1986 ; and (d) FSMA.
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