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Section 9 Directors and senior managersI1

United Kingdom

(1)

Share transfer regulations may enable the Secretary of State—

(a)

to remove a director or senior manager of a specified steel undertaking;

(b)

to vary or terminate the service contract of a director or senior manager of a specified steel undertaking;

(c)

to appoint a director or senior manager of a specified steel undertaking.

(2)

In this section—

  • “director” has the same meaning as in the Companies Act 2006 (see section 250 of that Act);

  • “senior manager” means a person who—

    1. (a)

      exercises executive functions within a specified steel undertaking, and

    2. (b)

      is responsible, and directly accountable to the directors, for the day-to-day management of that undertaking.

Annotations

Commencement

I1

S. 9 in force at Royal Assent, see s. 63(1)