Anglo Irish Bank Corporation Act 2009

No shadow or de facto directorship.

21.— (1) While the Minister or the Minister’s nominee is a member of Anglo Irish Bank, none of the persons mentioned in subsection (2) 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 (unless otherwise appointed as a director) as a person discharging managerial responsibilities of—

(a) Anglo Irish Bank,

(b) any of its subsidiaries, or

(c) any of its subsidiary undertakings.

(2) The persons are—

(a) the Minister,

(b) the Minister’s nominee,

(c) any person to whom the Minister’s functions under this Act are delegated, whether under the National Treasury Management Agency Act 1990 or otherwise,

(d) the Governor,

(e) any director of the Central Bank,

(f) any member of the Regulatory Authority,

(g) officers of, or consultants or advisors to, and persons employed by or under, or acting on behalf of, the Minister, the Central Bank or the Regulatory Authority.