Part 13Resolutions and meetings

Chapter 5Additional requirements for quoted companies

Independent report on poll

344Independence requirement

1

A person may not be appointed as an independent assessor—

a

if he is—

i

an officer or employee of the company, or

ii

a partner or employee of such a person, or a partnership of which such a person is a partner;

b

if he is—

i

an officer or employee of an associated undertaking of the company, or

ii

a partner or employee of such a person, or a partnership of which such a person is a partner;

c

if there exists between—

i

the person or an associate of his, and

ii

the company or an associated undertaking of the company,

a connection of any such description as may be specified by regulations made by the Secretary of State.

2

An auditor of the company is not regarded as an officer or employee of the company for this purpose.

3

In this section—

  • “associated undertaking” means—

    1. a

      a parent undertaking or subsidiary undertaking of the company, or

    2. b

      a subsidiary undertaking of a parent undertaking of the company; and

  • “associate” has the meaning given by section 345.

4

Regulations under this section are subject to negative resolution procedure.