Central Bank and Credit Institutions (Resolution) Act 2011

25.

Bank not to be director, etc.

25.— The Bank shall not, by reason of the imposition of a requirement under section 22 , 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 a person discharging managerial responsibilities of the authorised credit institution, subsidiary or holding company on which the requirement was imposed.