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governing body
Term Definition Legal instruments



means (in relation to any of the following (whether constituted in the UK or under the law of a country or territory outside it)):

(a) an unincorporated association;

(b) body corporate;

any person appointed to direct its affairs, including a person who is a member of its governing body and (in accordance with section 417(1) of FSMA):

(i) a person occupying in relation to it the position of a director (by whatever name called); and

(ii) a person in accordance with whose directions or instructions (not being advice given in a professional capacity) the directors of that body are accustomed to act.