HC Deb 11 December 2002 vol 396 c286

Mr. Archie Norman, supported by Mr. John Bercow, Mr. Martin O'Neill and Mr. Mark Lazarowicz presented a Bill to amend the law in relation to payment of a company director by way of compensation for loss of office so as to require boards to take the respective director's performance into account in setting the amount of any such payment, notwithstanding anything contained in his service contract; to require the board to disclose the amount of any such payment upon request by any shareholder; to require the insertion into the company's annual report of an explanation for the amount of any such payment, should it exceed the equivalent of the basic salary payable by contract to the respective employee in the previous 12 months; and for connected purposes: And the same was read the First time; and ordered to be read a Second time on Friday 31 January, and to be printed [Bill 22].