§ Mr. Skinnerasked the Secretary of State for Trade if he will now seek to amend the Companies Act to require the identification of individual company directors receiving in excess of £50,000 for loss of office; and if he will make a statement.
§ Mr. EyreUnder section 191 of the Companies Act 1948 any proposed payment by a company to any director by way of compensation for loss of office, or as consideration for or in connection with his retirement from office, must be disclosed to members of the company and approved by the company.