These concern when a director can engage in public practice.
Effective from 1 January 2008.
1.
These regulations were made by the Council on 6 November 1991 under former Bye-law 59(b) (now Bye-law 51(b)). They came into force on 1 December 1991.
Interpretation
2.
Words and phrases used in these regulations have the same meaning as in the bye-laws.
3.
The term director means any person occupying the position of director, by whatever name called and includes a shadow director within the meaning of the Companies Act 2006, section 251.
Corporate Practice
4.
A member is, by virtue of being a director of a body corporate, to be regarded as engaging in public practice if the body corporate is engaged in public practice.
5.
A member may not so engage in public practice if it is contrary to any applicable law for the body corporate in question to engage in public practice.
The Companies Act 2006, section 251(1) and (2), states that:
'In the Companies Acts "shadow director" means a person in accordance with whose directions or instructions the directors of the company are accustomed to act.
A person is not to be regarded as a shadow director by reason only that the directors act on advice given by him in a professional capacity.'