397. Information About Directors’ Benefits: Remuneration

(1) The Board may make rules requiring information to be given in notes to a company’s annual accounts about directors’ remuneration.
(2) The matters about which information may be required include–
(a) gains made by directors on the exercise of share options,
(b) benefits received or receivable by directors under long-term incentive schemes,
(c) payments for loss of office (as defined in section 203 (payments for loss of office)) and entitlements to end-of-service gratuity payments,
(d) benefits receivable, and contributions for the purpose of providing benefits, in respect of past services of a person as director or in any other capacity while director,
(e) consideration paid to or receivable by third parties for making available the services of a person as director or in any other capacity while director.
(3) For the purposes of this section, and rules made under it, amounts paid to or receivable by–
(a) a person connected with a director, or
(b) a body corporate controlled by a director, are treated as paid to or receivable by the director.
The expressions “connected with” and “controlled by” in this subsection have the same meaning as in Part 10 (company directors).
(4) It is the duty of–
(a) any director of a company, and
(b) any person who is or has at any time in the preceding five years been a director of the company,
to give notice to the company of such matters relating to himself as may be necessary for the purposes of rules under this section.
(5) A person who makes default in complying with subsection (4) commits a contravention of these Regulations and shall be liable to a level 3 fine.