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7. (1) A relevant person is not to be treated as—
(a)a shadow director of the Dunfermline Bridge Bank for the purposes of the provisions listed in the Schedule;
(b)a person discharging managerial responsibilities in respect of the Dunfermline Bridge Bank for the purposes of the provisions listed in the Schedule (unless that person has been appointed as a director).
(2) Nor is a relevant person to be treated as a director of the Dunfermline Bridge Bank by virtue of paragraph (b) of the definition of director in section 417(1) of FSMA (certain persons in accordance with whose directions or instructions the directors of the body corporate are accustomed to act).
(3) Relevant persons are—
(a)the Bank of England;
(b)a Minister of the Crown;
(d)UK Financial Investments Limited (company registered number 06720891);
(i)employed by or under, or
(ii)acting on the behalf of,
any of the persons in paragraph (3)(a) to (d).
(4) This article applies in relation to any subsidiary of the Dunfermline Bridge Bank as it applies in relation to the Dunfermline Bridge Bank
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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