Guidance

Directors’ remuneration reforms: frequently asked questions

Guidance on how and when quoted companies will be affected by reforms to the legal framework for directors’ remuneration.

• From: Department for Business, Innovation, Science and Trade, Department for Business and Trade and Department for Business, Energy & Industrial Strategy
• Published: 18 March 2013
• Last updated: 17 October 2013
  Show all updates

  1. 17 October 2013

     Update on reforms and new further information links

  2. 18 March 2013

     First published.

Documents

Directors’ Remuneration Reforms: Frequently Asked Questions

Ref: BIS/13/727

PDF, 223 KB, 21 pages

Details

The purpose of this document is to help quoted companies, as defined by the Companies Act 2006, understand how and when they will be affected by reforms to the legal framework for directors’ remuneration.

We have implemented these reforms through a combination of primary legislation and secondary legislation.

The reforms took effect on 1 October 2013, and affect annual general meetings (AGMs) held in reporting years commencing on or after that date.

Further information

• primary legislation: information from the Parliament website on the Enterprise and regulatory Reform Act
• secondary legislation: The large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013
• ‘Directors’ Remuneration Reporting Guidance’ from the GC100 and Investor Group (GC100 is the Association of General Counsel and Company Secretaries working in FTSE 100 Companies)