§ Mr. Morgan
To ask the Secretary of State for Trade and Industry if he will make it his policy to amend company law so that a non-executive director who has been chairman of the remunerations sub-committee of the board of directors of a public company cannot himself or herself be subsequently appointed to executive director posts whose remunerations were determined by that sub-committee.
§ Mr. Redwood
[holding answer 17 December 1991]: Detailed internal arrangements of companies and their boards are a matter for companies, operating in the case of listed companies under stock exchange rules.
The Secretary of State has no plans to amend company law, which provides for proper disclosure of remuneration of directors and chairmen and gives shareholders an adequate measure of control over the appointment and remuneration of directors.