PART 7Companies: Transparency
Shadow directors
89Application of directors' general duties to shadow directors
1
In section 170 of the Companies Act 2006 (scope and nature of general duties of directors) for subsection (5) substitute—
5
The general duties apply to a shadow director of a company where and to the extent that they are capable of so applying.
2
The Secretary of State may by regulations make provision about the application of the general duties of directors to shadow directors.
3
The regulations may, in particular, make provision—
a
for prescribed general duties of directors to apply to shadow directors with such adaptations as may be prescribed;
b
for prescribed general duties of directors not to apply to shadow directors.
4
In this section—
“director” and “shadow director” have the same meanings as in the Companies Act 2006;
“general duties of directors” means the duties specified in sections 171 to 177 of that Act;
“prescribed” means prescribed in regulations.
5
Regulations under this section are subject to affirmative resolution procedure.