# The Bank Recovery and Resolution (No. 2) Order 2014, Article 217: Shadow directorship

Extent: E+W+S+N.I.

(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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Source: https://www.legislation.gov.uk/uksi/2014/3348/article/217 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-217
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.