[42C Remuneration and service standards]
Electricity Act 1989 (1989 c 29) | Legislation

[42C  Remuneration and service standards]

[(1)     This section applies to any company which is authorised by a licence to carry on activities subject to price regulation.

(2)     As soon as reasonably practicable after the end of each financial year of the company it must make a statement to the Authority—

(a)     disclosing whether or not remuneration has been paid or become due during that financial year to the directors of the company as a result of arrangements falling within subsection (3); and

(b)     where such remuneration has been paid or become due, describing the arrangements and the remuneration.

(3)     Arrangements fall within this subsection if they are arrangements for linking the remuneration of the directors of the company to levels of performance as respects service standards in connection with activities subject to price regulation.

(4)     A description under subsection (2)(b) must include in particular—

(a)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Malus and clawback

Malus and clawbackFORTHCOMING CHANGE: On 18 March 2021, it was announced that the government was launching a consultation on wide-ranging reforms to modernise the country’s audit and corporate governance regime, targeting the UK’s biggest businesses and ensuring markets work effectively. In relation

LEXISNEXIS

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt claims against the company (and the rest of the group).Many highly levered deals have thin equity cushions and

LEXISNEXIS

CPR Part 8 claims (alternative procedure for claims)

CPR Part 8 claims (alternative procedure for claims)This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further

LEXISNEXIS

A chargor (an individual) is granting a legal charge to a chargee (a company). Can an employee of the

There does not appear to be any evidence that an employee of the chargee cannot witness the chargor’s signature.Practice Note: Property deeds—use and execution of deeds in property transactions, provides guidance on who may witness the signature of a deed by an individual:‘There are certain