The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002

Meaning of “manager”

12.  In Part IV of Schedule 9 to the Companies Act 1985 (special provisions for banking companies and groups)(1), paragraph (3) is amended as follows.

(2) In sub-paragraph (1)(b) the words “(within the meaning of the Financial Services and Markets Act 2000)”(2) are repealed.

(3) For sub-paragraph (3) substitute—

“(3) In this paragraph—

(a) “director” includes a shadow director;

(b) “chief executive” has the meaning given in section 417 of the Financial Services and Markets Act 2000; and

(c) “manager” has the meaning given in section 423(3) of that Act.”.

(1)

Part IV was inserted by the Companies Act 1989 (c. 40), section 18(3), (4), Schedule 7.

(2)

The words “within the meaning of the Financial Services and Markets Act 2000” were substituted by S.I. 2001/3649, article 35(3).