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.