Commonwealth Development Corporation Act 1999

Shadow directors

15 (1) For the purposes of the provisions listed in sub-paragraph (2), neither the Secretary of State nor the Treasury shall be regarded as a shadow director of the Corporation or of a company associated with the Corporation at any time while the Crown continues to hold any special share provided for under the Corporation’s articles of association.

(2) Those provisions are the following sections of the Companies Act 1985—

(a) section 288 (register of directors);

(b) section 305 (directors' names on correspondence, &c.);

(c) section 317 (disclosure of interests in contracts);

(d) section 320 (transactions involving directors);

(e) section 323 (prohibition on dealing in share options);

(f) section 324 (disclosure of shareholdings);

(g) section 325 (register of directors' interests);

(h) section 330 (restriction on loans).