Companies Act 2014 section 155

Remuneration of directors

Section 155 sets out the default rules for how directors' remuneration is determined and how their expenses are reimbursed, where the company's constitution does not provide otherwise.

• All provisions in this section are default rules that can be overridden by the company's own constitution
• Directors' remuneration is determined by the board of directors and is treated as accruing on a day-to-day basis
• Directors are entitled to reimbursement of travel, hotel and other expenses properly incurred on company business
• Reimbursable expenses include those arising from attending board meetings, committee meetings, general meetings and any other activity connected with company business