Source: http://www.legislation.gov.uk/cy/ukpga/2006/46/part/15/chapter/9
Timestamp: 2017-11-22 22:35:01
Document Index: 230531054

Matched Legal Cases: ['art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

Companies Act 2006, Chapter 9 is up to date with all changes known to be in force on or before 22 November 2017. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Chapter 9E+W+S+N.I.Quoted companies: members' approval of directors' remuneration report
439Quoted companies: members' approval of directors' remuneration reportE+W+S+N.I.
(1)A quoted company must, prior to the accounts meeting, give to the members of the company entitled to be sent notice of the meeting notice of the intention to move at the meeting, as an ordinary resolution, a resolution approving the directors' remuneration report for the financial year[F1other than the part containing the directors' remuneration policy (as to which see section 439A).]
(2)The notice may be given in any manner permitted for the service on the member of notice of the meeting.
(3)The business that may be dealt with at the accounts meeting includes the resolution.
This is so notwithstanding any default in complying with subsection (1) or (2).
(4)The existing directors must ensure that the resolution is put to the vote of the meeting.
(5)No entitlement of a person to remuneration is made conditional on the resolution being passed by reason only of the provision made by this section.
“the accounts meeting” means the general meeting of the company before which the company's annual accounts for the financial year are to be laid; and
“existing director” means a person who is a director of the company immediately before that meeting.
F1Words in s. 439(1) inserted (1.10.2013) by Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 79(3), 103(3); S.I. 2013/2227, art. 2(h)
[F2439AQuoted companies: members' approval of directors' remuneration policyE+W+S+N.I.
F2S. 439A inserted (1.10.2013) by Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 79(4), 103(3); S.I. 2013/2227, art. 2(h)
440Quoted companies: offences in connection with procedure for approvalE+W+S+N.I.
(1)In the event of default in complying with section 439(1)[F3or 439A(1) or (2)] (notice to be given of resolution for approval of directors' remuneration report[F4or policy]), an offence is committed by every officer of the company who is in default.
(2)If the resolution is not put to the vote of [F5the meeting to which it relates], an offence is committed by each existing director.
(3)It is a defence for a person charged with an offence under subsection (2) to prove that he took all reasonable steps for securing that the resolution was put to the vote of the meeting.
F6...F6...F6...
F3Words in s. 440(1) inserted (1.10.2013) by Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 81(10)(a)(i), 103(3); S.I. 2013/2227, art. 2(h)
F4Words in s. 440(1) inserted (1.10.2013) by Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 81(10)(a)(ii), 103(3); S.I. 2013/2227, art. 2(h)
F5Words in s. 440(2) substituted (1.10.2013) by Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 81(10)(b), 103(3); S.I. 2013/2227, art. 2(h)
F6Words in s. 440(5) omitted (1.10.2013) by virtue of Enterprise and Regulatory Reform Act 2013 (c. 24), ss. 81(10)(c), 103(3); S.I. 2013/2227, art. 2(h)
C2Ss. 418-469 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 10 (with transitional provisions and savings in regs. 7, 9, Sch. 2) (and the said Sch. 1 para. 10 is amended (with application in accordance with reg. 1(3) of the amending S.I.) by The Unregistered Companies (Amendment) Regulations 2013 (S.I. 2013/1972), regs. 1(2), 2(2)(a))