Section 217

A relevant person is not to be treated, in relation to a company under resolution, as— a shadow director for the purposes of the enactments specified in paragraph (3); a person who discharges managerial responsibilities for the purposes of those enactments (unless that person has been appointed as a director); or 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). “Relevant persons” are— the Bank; ... persons who are employed by, or act on behalf of, the Bank. a resolution administrator appointed under section 62B of the Banking Act 2009; and a temporary manager appointed under section 71C of the Financial Services and Markets Act 2000. The specified enactments are— the Companies Act 2006; the Insolvency Act 1986 ; the Company Directors Disqualification Act 1986 ; and FSMA.

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Source: legislation.gov.uk · retrieved 2026-09-04