Part 15Accounts and reports
Chapter 6Quoted companies and traded companies: directors' remuneration report
421Contents of directors' remuneration report
(1)
The Secretary of State may make provision by regulations as to—
(a)
the information that must be contained in a directors' remuneration report,
(b)
how information is to be set out in the report, and
(c)
what is to be the auditable part of the report.
(2)
Without prejudice to the generality of this power, the regulations may make any such provision as was made, immediately before the commencement of this Part, by Schedule 7A to the Companies Act 1985 (c. 6).
F1F2 (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.
(3)
It is the duty of—
(a)
any director of a company, and
(b)
any person who is or has at any time in the preceding five years been a director of the company,
to give notice to the company of such matters relating to himself as may be necessary for the purposes of regulations under this section.
(4)
A person who makes default in complying with subsection (3) commits an offence and is liable on summary conviction to a fine not exceeding level 3 on the standard scale.