Companies Act 2014 section 1197

Remuneration of directors

Section 1197 sets out the rules for how directors of a company limited by guarantee (CLG) are to be paid their remuneration and reimbursed for expenses.

• All provisions in this section are default rules that can be overridden by the CLG's own constitution
• Directors' remuneration must be determined by the members of the CLG at a general meeting, and it is treated as accruing on a day-to-day basis
• Directors are entitled to reimbursement for travel, hotel and other expenses properly incurred in attending board meetings, committee meetings or general meetings
• Directors may also claim expenses for any other costs properly incurred in connection with the CLG's business