This note has been updated to reflect the new UK regulatory structure, with effect from 1 April 2013 and amendments to the Financial Services and Markets Act 2000 (FSMA) made by the Financial Services Act 2012.
Index to annotated version of the UK Corporate Governance Code which sets out full text of the Code. Contains links to, and summaries of, relevant ABI, FRC, NAPF, PIRC, GC100 and ICSA guidance, the Disclosure and Transparency Rules, the Listing Rules and PLC know-how.
The UK Corporate Governance Code (www.practicallaw.com/2-502-1888) (Code) applies to companies with a premium listing (www.practicallaw.com/0-501-4233)of equity shares in relation to accounting periods beginning on or after 29 June 2010. On 28 September 2012, the FRC published a new version of the Code, which applies to financial years beginning on or after 1 October 2012, although the FRC encourages early adoption of the new provisions
PLC's Annotated UK Corporate Governance Code sets out the full text of the Code. Differences between the 2010 and 2012 editions of the Code are shown underlined (new text) and in square brackets (deletions).
Annotations are provided in the notes below the relevant text of the Code which summarise, and link to, relevant guidance on the Code provided by various bodies, including the Association of British Insurers (ABI), the Financial Reporting Council (FRC), the Financial Conduct Authority (FCA), the National Association of Pensions Funds (NAPF), the Pensions Investment Research Consultants (PIRC), The Association of General Counsel and Company Secretaries of the FTSE 100 (GC100) and the Institute of Chartered Secretaries and Administrators (ICSA). The annotations also contain links to relevant PLC materials.
The annotations are summaries of relevant guidance and are not intended to constitute a definitive statement of that guidance. You are advised to consult the full text of any guidance referred to in the annotations.
The text of the Code is reproduced with the permission of the FRC. For further information on the FRC, please visit the FRC's website (www.practicallaw.com/7-106-4506) or contact them on +44 (0)20 7492 2300.
Board's role; division of responsibilities; chairman; and non-executive directors.
Board's composition; evaluation; re-election; and nomination committee.
Financial reporting, risk management and internal control; auditors; and audit committee.
Level and components; procedure for developing policy on remuneration; and remuneration committee.
Dialogue with shareholders; and AGM.
Disclosure and Transparency Rules; Listing Rules; and the UK Corporate Governance Code.