New Clause 17 - Remuneration committees and non-executive directors
Enterprise and Regulatory Reform Bill
3:15 pm

Next clause » « Previous clause Enterprise and Regulatory Reform Bill


‘(1) The Secretary of State will provide for a requirement that an employee representative should be a member of the remuneration committee of a relevant body corporate.

(2) The Secretary of State will provide for a requirement that companies must demonstrate that non-executive directors on boards and remuneration committees are drawn from a diverse background.

(3) Companies must demonstrate that they are widening their search for nonexecutive committees.

(4) Companies must report how they are widening their search for non-executive directors in their annual report.’.—(Mr Iain Wright.)

Brought up, and read the First time.

Question put, That the clause be read a Second time.

The Committee divided: Ayes 6, Noes 9.

Question accordingly negatived.