ADVOKS GLOBAL · KENYA
Companies Act
681. Directors of quoted company required to obtain members' approval of directors' remuneration report
Edition: 2024-12-27 · In force
681. Directors of quoted company required to obtain members' approval of directors' remuneration report
(1)The directors of a quoted company shall, before the general meeting at which the financial statement is to be presented, give to the members of the company entitled to be sent notice of the meeting notice of the intention to move at the meeting, as an ordinary resolution, a resolution approving the directors' remuneration report for the financial year.(2)The notice may be given in any manner permitted for the service on the member of notice of the meeting.(3)A resolution approving the directors' remuneration report for the financial year may be approved at the meeting even if subsection (1) has not been complied with.(4)The existing directors of a quoted company shall ensure that the resolution is put to the vote at the meeting.(5)A person's entitlement to remuneration as a director is not dependent on the passing of the resolution approving the directors' remuneration report only because of the provision made by this section.(6)In this section and in section 682, "existing director" means a person who is a director of the company immediately before the general meeting at which the company's financial statement is or is to be presented.