Companies Act 2014 section 1102A

Modification of application of section 325(1) to traded PLC

Section 1102A requires traded public limited companies (PLCs) to include a directors' remuneration report as an additional component of their annual directors' report.

• This section applies specifically to traded PLCs — that is, companies whose shares are admitted to trading on a regulated market.
• It modifies the standard directors' report requirements set out in section 325(1) by adding a further obligation.
• The additional requirement is to prepare a remuneration report in accordance with section 1110N, which sets out detailed rules on the content of such a report.
• This change was introduced by the European Union (Shareholders' Rights) Regulations 2020 to enhance transparency around how directors of traded PLCs are paid.