79 Members' approval of directors' remuneration policy
Enterprise and Regulatory Reform Act 2013 (2013 c 24) | Legislation

Payments to directors of quoted companies

79  Members' approval of directors' remuneration policy

(1)     In section 421 of the Companies Act 2006 (contents of directors' remuneration report) after subsection (2) insert—

“(2A)     The regulations must provide that any information required to be included in the report as to the policy of the company with respect to the making of remuneration payments and payments for loss of office (within the meaning of Chapter 4A of Part 10) is to be set out in a separate part of the report.”

(2)     After section 422 of that Act (approval and signing of directors' remuneration report) insert—

“422A Revisions to directors' remuneration policy

(1)     The directors' remuneration policy contained in a company's directors' remuneration report may be revised.

(2)     Any such revision must be approved by the board of directors.

(3)     The policy as so revised must be set out in a document signed on behalf of the board by a director or the secretary of the company.

(4)     Regulations under section 421(1) may make provision as to—

(a)     the information that must be contained in a document setting out a revised directors'

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