Xmas Rescue Off-Duty Lifeguard and 'Shark' Save Family

A UK couple joined in a frantic rescue effort that saved a family from drowning.

Duncan Bannatyne -- who was one of the sharks on the UK version of "Shark Tank" -- and his wife, Nigora, were enjoying their vacation at Sandy Lane beach in Barbados Thursday when they came upon what looked like a tragedy ... a mother and her 2 young sons near death after being pulled out of the water by an off-duty lifeguard.

Duncan and Nigora joined in the best they could. The lifeguard is the true hero here. Not sure which one he is, but it appears to be the man in the black bathing suit cradling one of the kids.

The family was taken to a nearby hospital by ambulance where they're being treated.

It appears the boys got in trouble in the water and their mom jumped in trying to save them. She, too, was overtaken by the sea.

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