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Part 2Directors’ remuneration report and directors’ remuneration policy

Chapter 2Amendments to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008

12.—(1) The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008(1) are amended as follows.

(2) In regulation 11 (directors’ remuneration report (quoted companies and traded companies)(2)—

(a)in the heading, omit “and traded companies”;

(b)in paragraph (1), omit “or unquoted traded company”.

(3) In Schedule 8 (quoted companies and traded companies: director’s remuneration report)(3)—

(a)in the heading(4), omit “and traded companies”;

(b)in paragraph 2(5)—

(i)omit sub-paragraph (2A);

(ii)in sub-paragraph (8), paragraph (a), omit “or, where such a function exists in the company, the company’s deputy chief executive officer (however described)”;

(c)in paragraph 5(1)(6), omit the columns of the table headed “Total Fixed Remuneration” and “Total Variable Remuneration”;

(d)omit paragraphs 7(1)(g) and (h)(7);

(e)in paragraph 14(1)(b)(v)(8), omit “and any change in the exercise price or date”;

(f)in paragraph 18(1)(a)(i)(9), omit “or “unquoted traded company””;

(g)omit paragraph 19(10);

(h)in paragraph 21(3)(11), omit “and any deviations from the procedure for the implementation of the remuneration policy set out in the policy”;

(i)in paragraph 24, omit sub-paragraph (1A)(12);

(j)in paragraph 26(13)—

(i)in sub-paragraph (b), omit “and information on any deferral periods”;

(ii)omit sub-paragraph (ba);

(k)omit paragraph 30A(14);

(l)in paragraph 42(15), omit “, and a description and explanation of all significant revisions”;

(m)in paragraph 44(1)(16), omit the definition of “unquoted traded company”.

(2)

The heading and paragraph (1) were amended by S.I. 2019/970.

(3)

Schedule 8 was substituted by S.I. 2013/1981.

(4)

The heading was amended by S.I. 2019/970.

(5)

Sub-paragraph (2A) was inserted, and sub-paragraph (8) was amended, by S.I. 2019/970.

(6)

Sub-paragraph (1) was amended by S.I. 2019/970.

(7)

Paragraphs (g) and (h) were inserted by S.I. 2019/970.

(8)

Paragraph (b) was amended by S.I. 2019/970.

(9)

Paragraph (a) was amended by S.I. 2019/970.

(10)

Paragraph 19 was amended by S.I. 2019/970.

(11)

Sub-paragraph (3) was amended by S.I. 2019/970.

(12)

Sub-paragraph (1A) was inserted by S.I. 2019/970.

(13)

Sub-paragraph (b) was amended, and sub-paragraph (ba) was inserted, by S.I. 2019/970.

(14)

Paragraph 30A was inserted by S.I. 2019/970.

(15)

Paragraph 42 was amended by S.I. 2019/970.

(16)

The definition of “unquoted traded company” was inserted by S.I. 2019/970.