COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 187 Statement as to directors' salaries, pensions, etc., to be furnished to members.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 187

Statement as to directors' salaries, pensions, etc., to be furnished to members.

187.(1) Where

(a)not less than twenty members having the right to vote at general meetings
of a company; or

(b)a member or members representing not less than one-twentieth of the total
voting rights of members having the right to vote at general meetings of a
company;

(2) The statement required, by virtue of sub-section (1), to be furnished to
members of the company shall show

(a)the aggregate amount of the directors' emoluments; and

(b)the aggregate amount of directors' or past directors' pensions; and

(c)the aggregate amount of any compensation to directors or past directors in
respect of loss of office.

(3) The amount to be shown under paragraph (a) of sub-section (2)

(a)shall include any emoluments paid to or receivable by any person in respect
of his services as director of the company or in respect of his services,
while director of the company, as director of any subsidiary thereof or
otherwise in connection with the management of the affairs of the company or
any subsidiary thereof; and

(b)shall distinguish between emoluments in respect of services as director,
whether of the company or its subsidiary, and other emoluments;

(4) The amount to be shown under paragraph (b) of sub-section (2)

(a)shall not include any pension paid or receivable under a pension scheme if
the scheme is such that the contributions thereunder are substantially
adequate for the maintenance of the scheme, but save as aforesaid shall
include any pension paid or receivable in respect of any such services of a
director or past director of the company as are mentioned in sub-section (3),
whether to or by him or, on his nomination or by virtue of dependence on or
other connection with him, to or by any other person; and

(b)shall distinguish between pensions in respect of services as director,
whether of the company or its subsidiary, and other pensions;

(5) The amount to be shown under paragraph (c) of sub-section (2)

(a)shall include any sums paid to or receivable by a director or past director
by way of compensation for the loss of office as director of the company or
for the loss, while director of the company or on or in connection with his
ceasing to be a director of the company, of any other office in connection
with the management of the company's affairs or of any office as director or
otherwise in connection with the management of the affairs of any subsidiary
thereof; and

(b)shall distinguish between compensation in respect of the office of
director, whether of the company or its subsidiary, and compensation in
respect of other offices;

(6) The amounts to be shown under each paragraph of sub-section (2)

(a)shall include all relevant sums paid by or receivable from

(i)the company; and

(ii)the company's subsidiaries; and

<(iii)any other person;


(a)except sums to be accounted for to the company or any of its subsidiaries
or, by virtue of section one hundred and eighty-four, to past or present
members of the company or any of its subsidiaries or any class of those
members; and

(b)shall distinguish, in the case of the amount to be shown under paragraph
(c) of sub-section (2), between the sums respectively paid by or receivable
from the company, the company's subsidiaries and persons other than
the company and its subsidiaries.

(7) The amounts to be shown under this section for any financial year shall be
the sums receivable in respect of that year, whenever paid, or, in the case of
sums not receivable in respect of a period, the sums paid during that year.

(8) Where it is necessary so to do for the purpose of making any distinction
required by this section in any amount to be shown thereunder, the directors
may apportion any payments between the matters in respect of which they have
been paid or are receivable in such manner as they think appropriate.

(9) If any director fails to comply with the requirements of this section he
shall be liable to a fine not exceeding fifty pounds.

(10) In this section any reference to a company's subsidiary

(a)in relation to a person who is or was, while a director of the company, a
director also by virtue of the company's nomination, direct or indirect, of
any other body corporate, shall, subject to paragraph (b), include that body
corporate, whether or not it is or was in fact the company's subsidiary; and

(b)shall for the purposes of sub-sections (3) and (4) be taken as referring to
a subsidiary at the time the services were rendered, and for the purposes of
sub-section (5) be taken as referring to a subsidiary immediately before the
loss of office as director of the company.]

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 187