Chapter 12 - Oversight by regulators

Question 1

How often should listed companies undertake a board evaluation?

Answer 1

i. Internally - every year
ii. Externally facilitated - At least every 3 years - FTSE 350 companies

Question 2

Must every director be evaluated every year?

Answer 2

UK Corporate Governance Code provision 21 provides that for listed companies, there should be a formal and rigour annual evaluation of the performance of the board, its committees , the chair and individual directors.

Question 3

Should evaluation follow the same format and cover the same topics each year?

Answer 3

No

Question 4

What are the two main options available to members under the Act to take against directors?

Answer 4

Actions for unfair prejudice or derivative action claim.

Question 5

Of whose interest should directors be most mindful?

Answer 5

The members

Question 6

In general, how is the power of entry and search granted and who to?

Answer 6

By the courts / magistrates to a police constable.