3Interpretation

3 Interpretation

In this Act, unless the contrary intention appears –

Administrator means an Administrator appointed under section 43 ;

appointed director means a person appointed as an appointed director under section 12(3) or section 13 ;

Board means the Board of Directors of the Trust;

director means the managing director, an appointed director or an elected director;

elected director means a person –

(a) taken to be an elected director under section 12(4) ; or

(b) elected as an elected director under section 13 ;

initial Board means the initial Board of Directors referred to in section 12 ;

initial managing director means the person appointed as the initial managing director under section 12 ;

managing director means the initial managing director or the person appointed as managing director under section 14 ;

members of the Trust has the meaning given by section 8 ;

non-executive director means a director other than the managing director;

rules means rules made and in force under section 42 ;

special resolution means a resolution of the Board –

(a) passed at a meeting of the Board of which not less than 21 days’ written notice, specifying the intention to propose the resolution as a special resolution, has been duly given to all directors of the Board; and