(1) A person specified in subsection (2) shall not be taken to be -

(a) a shadow director (within the meaning of the Companies Act), or

(b) a de facto director (within the meaning of the Companies Act),

of HBFI or any HBFI group entity, unless that person is appointed as a director of HBFI or a HBFI group entity, as the case may be.

(2) The persons referred to in subsection (1) are the following:

(a) the Minister;

(b) the NTMA;

(c) an employee or a member of the staff of the NTMA;

(d) NAMA;

(e) an officer of NAMA (within the meaning of the Act of 2009);

(f) HBFI;

(g) an officer of HBFI.