The Companies (Directors’ Remuneration Policy and Directors’ Remuneration Report) Regulations 2019

Amendments to section 226A

6.  In section 226A (key definitions)—

(a) in subsection (1)—

(i) in the definition of “directors’ remuneration policy”, after “company” insert “, or of an unquoted traded company,”;

(ii) after the definition of “payment for loss of office” insert—

““unquoted traded company” means a traded company (as defined by section 360C) that is not a quoted company.”;

(b) in subsection (2), after “quoted company” insert “or unquoted traded company”;

(c) after subsection (9) insert—

“(10) References in this Chapter (other than sections 226E(2)(b) and (5)) to a director of a company include a person who is not a director of the company but who is—

(a) its chief executive officer (however described), or

(b) where such a function exists in the company, its deputy chief executive officer (however described).”