(1) When discharging a function under this Act, none of the persons mentioned in subsection (2) shall be taken, only because of discharging that function, to be a shadow director (within the meaning given by section 27(1) of the Companies Act 1990) nor a de facto director nor a person discharging managerial responsibilities of -
(a) any participating institution,
(b) any person that is a debtor, guarantor or surety in relation to an acquired bank asset, or
(c) a person that is an associated debtor of a debtor referred to in paragraph (b).
(2) The persons are -
(c) any appointed member of the Board,
(d) the Chief Executive Officer of NAMA,
(e) an officer of NAMA,
(h) the Chief Executive of the NTMA,
(j) a member of the Commission of the Central Bank,
(k) an employee of the Central Bank,
(l) [deleted]
(n) a director of a NAMA group entity, and
(o) an officer of, a consultant
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