SCHEDULES

SCHEDULE 7Constitution of public benefit corporations

Annual reports and forward plans

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1

A public benefit corporation must prepare annual reports and send them to the regulator.

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The reports must give—

a

information on any steps taken by the corporation to secure that (taken as a whole) the actual membership of any public constituency and (if there is one) of the patients' constituency is representative of those eligible for such membership,

F2ab

information on the corporation's policy on pay and on the work of the committee established under paragraph 18(2) and such other procedures as the corporation has on pay,

ac

information on the remuneration of the directors and on the expenses of the governors and the directors,

b

any other information the regulator requires.

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Before imposing a requirement under sub-paragraph (2)(b) that the regulator considers is sufficiently significant to justify consultation, the regulator must consult such persons as it considers appropriate.

3

It is for the regulator to decide—

a

the form of the reports,

b

when the reports must be sent to it,

c

the periods to which the reports are to relate.

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1

A public benefit corporation must give information to F3the regulatorF3the Secretary of State as to its forward planning in respect of each financial year.

2

The document containing the information must be prepared by the directors.

3

In preparing the document the directors must have regard to the views of the board of governors.