2018 UK Corporate Governance Code—Section 1—Leadership and purpose

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • 2018 UK Corporate Governance Code—Section 1—Leadership and purpose
  • Mini-index
  • Section 1—Setting the scene
  • Principle A
  • Principle B
  • Principle C
  • Principle D
  • Principle E
  • Provision 1
  • Provision 2
  • More...

2018 UK Corporate Governance Code—Section 1—Leadership and purpose

This Resource Note outlines the main provisions of Section 1 (Leadership and Purpose) of the UK Corporate Governance Code (UKCG Code) and highlights relevant third party materials, guidance, commentary and analysis, as well as resources, to give practical guidance on its application.

Materials covered in this Resource Note include:

  1. the Financial Reporting Council (FRC)'s 2018 Guidance on Board Effectiveness

  2. guidance issued by the Chartered Governance Institute (previously known as ICSA: The Governance Institute) (CGI)

  3. the 2022 United Kingdom and Ireland Proxy Voting Guidelines published by Institutional Shareholder Services (ISS)

  4. the Stewardship and Voting Guidelines 2022 published by the Pensions and Lifetime Savings Association (PLSA)

  5. the Shareholder Voting Guidelines, published by Pensions & Investment Research Consultants Ltd (PIRC), available for purchase from PIRC's website

  6. the EY/IA joint report on Board effectiveness—continuing the journey

  7. resources in the Corporate practice area

Mini-index

Section 1—Setting the scene

Principle A

Principle B

Principle C

Principle D

Principle E

Provision 1

Provision 2

Provision 3

Provision 4

Provision 5

Provision 6

Provision 7

Provision 8

Notes

Section 1—Setting the scene

In a nutshell...Section 1 deals with the function of the board and its role in establishing the company’s purpose, values and strategy. It also encourages the board to consider the culture of the company and wider stakeholder interests and to ensure that workforce policies and practices are consistent with the company’s values.
Versions of the UKCG

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