Directors36
1
Section 36A (directors)51 is amended as follows.
2
In subsections (1) and (2), after “a director”, in each place it occurs, insert “or senior manager”.
3
After subsection (3) insert—
4
In this section “senior manager” means a person who—
a
exercises executive functions within a specified bank or banking group company, and
b
is responsible, and directly accountable to the directors, for the day to day management of that bank or banking group company.
5
In this section references to a bank include a resolution company (whether or not it is a bank).
4
Accordingly, in the heading, after “Directors” insert “and senior managers”.