Companies Act 2014 section 1212

Requirement for corporate governance statement and modification of certain provisions of Parts 5 and 6 as they apply to CLGs

Section 1212 requires certain companies limited by guarantee (CLGs) to comply with the corporate governance statement obligations set out in Chapter 3 of Part 23 of the Companies Act 2014.

• Chapter 3 of Part 23 sets out requirements for corporate governance statements
• These requirements apply to a CLG that has debentures admitted to trading on a regulated market in an EEA state
• CLGs in this category are subject to the same governance disclosure obligations as other types of companies covered by Chapter 3
• The provision ensures transparency for CLGs whose debt instruments are publicly traded within the European Economic Area