'comply or explain' approach
- 'comply or explain' approach
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Paragraph 9.8.6R of the Listing Rules requires a company to include:
• A statement of how the company has applied the principles of Section 1 of the Code, in a manner that would enable shareholders to evaluate how they have been applied; and
• A statement of whether the company has complied throughout the accounting period with all relevant provisions of Section 1 of the Code, specifying which provisions have not been complied with, for what period and the reasons for non-compliance.
The corporate governance disclosure requirements set out in paragraph 9.8.6R are in addition to any other information required to be included in the company's annual report and accounts, whether by law, the Listing Rules or the Code.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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