§ [Nos. 14–18]
§ Clause 6, page 6, line 3, leave out ("be shown")
§
Clause 6, page 6,line 6, leave out paragraph (a) and insert—
("(a) if one person has been chairman throughout the financial year, be shown his emoluments (unless his duties as chairman were wholly or mainly discharged outside the United Kingdom), and if not, be shown with respect to each person who has been chairman during the year, his emoluments so far as attributable to the period during which he was chairman (unless his duties as chairman were wholly or mainly so discharged) ")
§ Clause 6, page 6, line 9, leave out ("of all the directors") and insert ("with respect to all the directors (other than any who discharged their duties as such wholly or mainly outside the United Kingdom), be shown")
§
Clause 6, page 6, line 17, leave out subsection (2) and insert—
("(2) If, of the directors of a company (other than any who discharged their duties as such wholly or mainly outside the United Kingdom), the emoluments of one only (so far as ascertainable from information contained in the company's books and papers or obtainable by right by the company from him) exceed the relevant amount, his emoluments (so far as so ascertainable) shall also
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be shown in the said accounts or in a statement annexed thereto; and if, of the directors of a company (other than any who discharged their duties as such wholly or mainly outside the United Kingdom), the emoluments (so far as so ascertainable) of each of two or more exceed the relevant amount, the emoluments (so far as so ascertainable) of him (or them, in the case of equality) who had the greater or, as the case may be, the greatest shall also be shown in the said accounts or in a statement annexed thereto.")
§ Clause 6, page 6, line 35, at end insert ("(other than contributions paid in respect of him under any pensions scheme)")
§ LORD BROWNMy Lords, I beg to move that this House doth agree with the Commons in their Amendments Nos. 14 to 18 inclusive. At the same time I would seek permission to speak to Amendments 20, 21, 23, 24, 25 and 64. Clause 8 of the Bill releases companies from providing data on salaries of over £10,000 per annum if those receiving them work mainly overseas. The first purpose of the Amendments is to make exemptions applying to the disclosure of salaries of chairmen and directors working mainly overseas. The second purpose is to exempt from inspection the contracts of employment of those directors mainly working overseas. The third purpose is to exclude from emoluments subject to publication under Clause 6 those contributions paid by a company in respect of any director under a pension scheme.
It has been pressed upon the Government in another place that the inclusion for the purpose of publication of emoluments of contributions made under a pension scheme is not reasonably possible, because it is not always possible to divide up sums put aside for pensions between the individuals receiving them, and if the procedure at present in the Bill were to continue there would be a disparity between some emoluments which contained personally attributable pension sums and others which did not. I beg to move.
§ Moved, That this House doth agree with the Commons in the said Amendments.—(Lord Brown.)
§ On Question, Motion agreed to.