# Companies Act 2006, Section 226C: Loss of office payments

Extent: E+W+S+N.I.

(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 ... unless—
(a) the payment is consistent with the approved directors' remuneration policy, or
(b) the payment is 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 in general meeting.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/226C (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-226C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.