Managing director status defined by entrustment of substantial powers of management, excluding routine administrative acts. A managing director is a director entrusted with substantial powers of management by the articles, an agreement, a general meeting resolution, or by the Board; the role covers any title by which that function is held. Routine administrative powers (e.g., affixing the common seal, drawing or endorsing cheques or negotiable instruments, signing share certificates, or directing share registration) are not regarded as substantial powers of management under this definition.