Government approves legislation amending directors' remuneration requirements

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30 May, 2019

The Companies (Directors' Remuneration Policy and Directors' Remuneration Report) Regulations 2019 ("the Regulations") have been approved.

The Regulations, which implement the requirements of the Revised Shareholder Rights Directive (SRD), will come into force on 10th June 2019.

The changes to remuneration reporting will come into effect in respect of financial years starting on or after 10th June 2019.

The changes to the requirements on the remuneration policy will apply in respect of any new policy brought to shareholders for approval on or after 10th June 2019. Existing policies before then will not be affected, and this policy can continue until the end of its maximum three year period, or an earlier date that the company brings a policy to vote.

For more detail on the specifics of the Regulations, please see the previous news article.

A link to the Regulations is available here.

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