National Treasury Management Agency (Amendment) Act 2014
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Certain persons not to be shadow directors | ||
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45. (1) Unless otherwise appointed as a director, none of the persons to whom this section applies is to be taken to be a shadow director (within the meaning given by section 27 (1) of the Companies Act 1990 ) nor what is known as a de facto director nor as a person discharging managerial responsibilities of— | ||
(a) a company in which the Agency or a Fund investment vehicle has a directed investment, or | ||
(b) any subsidiary or subsidiary undertaking of such a company. | ||
(2) This section applies to the following persons: | ||
(a) the Minister; | ||
(b) a member of the Agency; | ||
(c) a member of the Investment Committee of the Agency; | ||
(d) a member of any committee established under section 5B of the Act of 1990; | ||
(e) any member of the staff of the Agency. | ||
(3) In this section— | ||
“subsidiary”, in relation to a company, has the same meaning as in section 155 of the Companies Act 1963 ; | ||
“subsidiary undertaking”, in relation to a company, has the same meaning as in the European Communities (Companies: Group Accounts) Regulations 1992 ( S.I. No. 201 of 1992 ). |