(1) Unless otherwise appointed as a director, none of the persons mentioned in subsection (2) is to be taken to be a shadow director (within the meaning given by section 27 (1) of the Companies Act 1990) nor what is known as a de facto director nor as a person discharging managerial responsibilities of -
(a) a company in which the Commission or a Commission investment vehicle has a directed investment,
(b) any subsidiary or subsidiary undertaking of such a company.
(2) The persons are the following:
(b) the Commission;
(c) a Commissioner;
(d) the Manager and any member of the staff of the Manager.
(3) In this section:
"subsidiary", in relation to a company, has the same meaning as in section 155 of the Companies Act 1963;
"subsidiary undertaking", in relation to a company, has the same meaning as in the European Communities (Companies: Group Accounts) Regulations 1992 (S.I. No. 201 of 1992).