[226C Loss of office payments]
Companies Act 2006 | Legislation

[226C  Loss of office payments]

[(1)     No payment for loss of office may be made by any person to a person who is, or has been, a director of a quoted company [or of an unquoted traded company] unless—

(a)     the payment is consistent with the approved directors' remuneration policy, or

[(b)     an amendment to that policy authorising the company to make the payment has been approved by resolution of the members of the company].

(2)     The approved directors' remuneration policy is the most recent remuneration policy to have been approved by a resolution passed by the members of the company

Popular documents