For a company to which section 300A applies for the previous financial year for the company, a person holds a managerial or executive office in the company during the current financial year if the person's details were included in the directors' report for that previous financial year for the company in accordance with paragraph 300A(1)(c).
Note: A person holding a managerial or executive office ceases to do so if the person's details are not included in the next director's report. However, this is not relevant to whether the person has retired from an office or position in the company (see paragraph 200A(1)(f)).
The person is taken to hold the managerial or executive office for the whole of the current financial year unless and until the person retires from an office or position in the company before the end of that year.
Note: Retires has an extended meaning (see section 200A).
For a body corporate not covered by subsection (1), a managerial or executive office for the body corporate is:
(a) an office of director of the body corporate; or
(b) any other office or position in connection with the management of the body corporate's affairs that is held by a person who also holds an office of director of the body corporate or a related body corporate.