[33F Remuneration and service standards]
Gas Act 1986 (1986 c 44) | Legislation

[Service standards and remuneration]

[33F  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

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