ComplianceSME

Ireland · The traded public limited company

The remuneration policy vote, the remuneration report, related party transactions and the governance statement

the Companies Act 2014 · sections 1110M to 1110O, 1373, 1374, 1376 and 1377

Where the problem is

The remuneration vote is periodic and the period is four years. Subject to section 1110M(4)(b) and to paragraphs (b) and (c) of the subsection, a traded PLC must hold a remuneration vote at least once every 4 years (section 1110M(5)(a)). A company that puts the policy to the meeting only when it changes will miss the cycle.

Related party announcements are made at the conclusion of the transaction, not after it. Subject to section 1110O(5), when entering into a material transaction with a related party, a traded PLC must publicly announce the transaction no later than at the conclusion of the transaction (section 1110O(1)). An announcement made when the accounts are published is far too late.

What the Companies Act 2014 requires

Sections 1110M and 1110N govern the remuneration policy, the vote on it and the directors' remuneration report. Without prejudice to any longer period laid down by European Union law, a traded PLC may not make the remuneration report available in the manner section 1110N(5) prohibits. After a general meeting at which a vote under section 1110N(6) is held, the traded PLC must make the report available as section 1110N(8)(a) requires, subject to paragraph (b).

Section 1110O governs the transparency and approval of material transactions with related parties. Sections 1373, 1374, 1376 and 1377 require the corporate governance statement of a traded company to be included in the directors' report referred to in section 325, subject to section 1373(3), and set what that statement must contain.

The tool that solves it

Files 146, 147, 148 and 173 of the IE-COMPANY package cover this situation. File 146 works through the right to vote on the remuneration policy and the four-year cycle. File 147 works through the directors' remuneration report and its publication. File 148 works through the identification, announcement and approval of related party transactions. File 173 works through the corporate governance statement in the directors' report.

This situation is covered by these files from the pack IE-COMPANY

Files for this situation

Free · this situation only

The working files named above cover this situation. You take them from your free ComplianceSME account when this situation arises, and you come back to the site for the next situation.

You take the starter pack first: PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that the other files require. The situations open in your account once you have taken the starter pack.

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The free system

Free · with a free account

The ComplianceSME system for the Companies Act 2014 is free. It needs a free ComplianceSME account and runs inside your own Claude account. It holds 215 working files, the training file, the reference file in four volumes, the regulation analysis, the final review with the gap analysis, and the report assembly. You take the starter pack first, and after that the files for one situation at a time, as each situation arises.

The starter pack holds PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that every other working file requires. Print PRINT_ME_FIRST.pdf and read it before any other file.

The system runs in your own Claude account. Upload the files, type START, and the system asks you one question at a time until it has built your documentation, citing the section at every point.

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ComplianceSME tracks the Companies Act 2014 and issues update files through the membership, so that you are never working from a superseded version. Membership

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