National Asset Management Agency Act 2009
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No shadow or de facto directorship. |
15.— (1) When discharging a function under this Act, none of the persons mentioned in subsection (2) shall be taken, only because of discharging that function, to be a shadow director (within the meaning given by section 27(1) of the Companies Act 1990 ) nor a de facto director nor a person discharging managerial responsibilities of— | |
(a) any participating institution, | ||
(b) any person that is a debtor, guarantor or surety in relation to an acquired bank asset, or | ||
(c) a person that is an associated debtor of a debtor referred to in paragraph (b). | ||
(2) The persons are— | ||
(a) the Minister, | ||
(b) NAMA, | ||
(c) any appointed member of the Board, | ||
(d) the Chief Executive Officer of NAMA, | ||
(e) an officer of NAMA, | ||
(f) the NTMA, | ||
(g) any employee of the NTMA, | ||
(h) the Chief Executive of the NTMA, | ||
(i) the Governor, | ||
(j) a director of the Central Bank, | ||
(k) an employee of the Central Bank, | ||
(l) a member of the Regulatory Authority, | ||
(m) a NAMA group entity, | ||
(n) a director of a NAMA group entity, and | ||
(o) an officer of, a consultant or adviser to, or a person employed by or under or acting on behalf of, any person, body or authority mentioned in paragraphs (a) to (n). | ||
(3) For the purposes of this section, a de facto director is a person who is determined to have been a director of a company although not formally or validly appointed to the position. |