This section has no associated Explanatory Notes
3(1)Where a member is, or was—S
(a)a director in a related undertaking; or
(b)a partner in a firm,
but does, or did, not receive remuneration by virtue of being such a director or partner.
(2)For the purposes of sub-paragraph (1)(a), a related undertaking is a parent or subsidiary undertaking of an undertaking of which the member is a director and receives remuneration as a director as mentioned in paragraph 2(1)(d).
Commencement Information
I1This provision comes into force in accordance with s. 21(4)