s 25 Shadow directors, etc.
Neither the Secretary of State nor the national system operator is, by virtue of the exercise of a power conferred by or by virtue of this Chapter, to be regarded as— (a) a person occupying in relation to a CFD counterparty the position of director; (b) being a person in accordance with whose directions or instructions the directors of a CFD counterparty are accustomed to act; (c) exercising any function of management in a CFD counterparty; (d) a principal of a CFD counterparty.