§ Mr. Timothy Smithasked the Minister for Trade if he has considered raising the thresholds for disclosure of employees' and directors' emoluments under the Companies Act 1967; and if he will make a statement.
§ Dr. VaughanIn line with the commitment made in Cmnd. 7654—"Company Accounting and Disclosure"—I have reviewed certain thresholds for the disclosure of information under the Companies Acts. In the light of this review, I have today laid regulations raising the threshold for disclosure of employees' emoluments under section 8 of the Companies Act 1967 from £20,000 to £30,000 and the threshold for disclosure of directors' emoluments under section 6 of the 1967 Act from £40,000 to £60,000. The regulations apply to accounts prepared after 31 December 1982.