OpenLegislation

Regulation 8 Directors of School Companies and their remuneration

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The constitution of a school company must provide that at least 40% of the directors of the company at any one time shall be non-executive directors.

(2)

The constitution of a school company must provide that:–

(a)

there shall be a remuneration committee;

(b)

the members of the remuneration committee shall all be non-executive directors;

(c)

the remuneration committee shall recommend to the directors of the company the terms of service and remuneration of the executive directors; and

(d)

the terms of service and remuneration of the executive directors shall be determined either by the directors as a whole on the recommendation of the remuneration committee, or by the remuneration committee alone.