There are various conditions within the Code which we shall tabulate for your ease of reference.
Note that even though all provisions do not apply to all organisations. They should be considered as Best Practice.
Clauses like “Such companies may nonetheless consider that it would be appropriate to adopt the approach in the Code and they are encouraged to do so” make it very difficult to ignore especially when contained under the Comply or Explain section as this one is.
Conditions within the Code which are hierarchical –
Primary conditions are –
- Premium Listed companies
- Equity share listing
- UK incorporated or non-UK incorporated
- For financial periods started on or after 29th June 2010
Certain special conditions are –
- FTSE 350 – all directors are subject to annual re-election
- FTSE 350 – external Board Evaluation every 3 years
Deemed Best Practice
- All listed companies should comply or explain
- All financial services companies should comply or explain