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Executive director

Means a director who is an officer or employee, or is otherwise involved in the day-to-day management of either:

(a) The company;
(b) Another company which is a controlling shareholder of the company;
(c) Another company of which the company is a controlling shareholder; or
(d) Another company which is controlled by a controlling shareholder.

In this definition, the word "company", which is a controller of the CMSP, excludes sovereigns such as government-owned entities and government ministries.

Added: July 2011