Corporate Governance 5

Question 1

What are the three principles of remuneration ?

Answer 1

P- remuneration policies and practices should be designed to support strategy and promote long term sustainable success

Q- a formal and transparent procedure for developing policy on exc remuneration should be established

R- directors should exercise independent judgement and discretion when authorising remuneration outcomes

Question 2

What does provision 32 state

Answer 2

The board should establish a remuneration committee of independent non executive directors minimum 3

The chair of the board can only be a member if they were independent on appointment and cannot chair the committee

Question 3

What does provision 33 state

Answer 3

The remuneration committee should have delegated responsibility for determining the policy for exc direction remuneration and setting the remuneration for the chair,