Directors' remuneration

A clear distinction should be made between remuneration mechanisms for executive directors and non executive directors.

The current level of disclosure relating to directors' remuneration varies widely.

The ad hoc consultative group took the view that directors should disclose the mechanism for setting directors' remuneration and its structure.

Along with the duties and responsibilities of directors, shareholders will need to know how directors were evaluated, what criteria were used and how they were applied in practice, particularly with reference to remuneration.

National Association of Corporate Directors (2000). Report of the NACD Blue Ribbon Commission on Performance Evaluation of Chief Executive Officers, Board and Directors.

The board of directors shall be liable for the authenticity of such report.

Institute of Directors in Southern Africa (1994). The King I Report on Corporate Governance.

Institute of Directors in Southern Africa (2002). The King II Report on Corporate Governance.

(1) deliberating and approving the annual compliance report of the company and presenting such report to the board of directors

The Indian Code, for instance, requires disclosure about remuneration in a section of the annual report on corporate governance, in addition to suitable disclosure on director's remuneration in the profit and loss statement.

However the trend appears to be towards greater levels of disclosure in this area, especially in Europe France, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom have all introduced laws to enforce the disclosure of directors' individual remuneration.

Recently added regulations also require companies to put their remuneration report to a shareholder vote at each annual general meeting.

Definition of remuneration.

The Narayan Murty Committee Report in India, for instance, makes a clear distinction between non executive and independent directors.

Institute of Chartered Accountants in England and Wales (1999). Internal Control Guidance for Directors on the Combined Code (Turnbull Report).

In 2002, the percentage of women directors of all directors was approximately 26 .

It is recognized that not all non executive directors can be considered independent directors.

F. Review of pensionable remuneration

1 The decision of the board of directors and the opinions of the independent directors

Since our previous report, more than a third of the directors nominated in governmental corporations were women (203 women of 558 nominations).

Ratification of ILO Convention 100 on Equal Remuneration. Pakistan ratified ILO Convention 100 on Equal Remuneration on 15 August 2001.

Toronto Stock Exchange Committee on Corporate Governance in Canada (1994). Where Were the Directors? Guidelines for Improved Corporate Governance in Canada (Dey Report).

In this regard, a draft decision on adjustment of the remuneration of members of the Tribunal is attached as annex IV to the present report.

The board of directors of the Company and the directors thereof shall guarantee the authenticity, accuracy and integrity of the annual report and the summary content thereof, and each director shall sign on the annual report, promising that the report does not contain any false records, misleading statements or gross omission and that he would bear separate and joint legal liability for his promise.

General Motors Board of Directors (2000). GM Board of Directors Corporate Governance Guidelines on Significant Corporate Governance Issues.

The allowances were computed on the basis of the maximum annual remuneration of 160,000, the comparator remuneration figure since 1 January 2000.

(d) Discrimination in labour remuneration is prohibited.

Furthermore, it implies that 319 directors and only 17 women directors earn more income, which indicates that men have better economic security, because they are more numerous at the positions of directors.

Direction and management will be provided for this Major Programme by the relevant Managing Directors and Directors, as appropriate.

Direction and management will be provided for this Major Programme by the relevant Managing Directors and Directors, as appropriate.

Direction and management will be provided for this Major Programme by the relevant Managing Directors and Directors, as appropriate.

Drawing attention to the broad definition of remuneration contained in the Convention, which includes these types of remuneration, the Committee asked the Government how it ensured that discrimination in remuneration as between men and women for work of equal value does not occur for the types of remuneration excluded from the coverage of the Labour Act.

During the 2000 2003 period, the number of women appointed as directors and deputy directors increased from 10 to 15.

Introduction (Directors of Evaluation and Programme)

In the United Kingdom, for example, the report of the company's remuneration committee must identify each director and specify his or her total compensation package, including share options.

Regarding the Gambia's labour laws, a recent International Labour Organization (ILO) report had noted a wide discrepancy between those laws and the actual remuneration of men and women.

The directors and senior managers of the securities firm shall sign the annual report of the securities firm for confirmation key personnel in charge of operations and finance shall sign the monthly report for confirmation.

In case any directors are unable to guarantee the authenticity, accuracy and integrity of the annual report or hold any objections, they shall state their reasons and give their opinions separately in the annual report.

His remuneration consists of a base salary plus commissions.

Pensionable remuneration for staff in the Field Service category

Subject matter Unequal remuneration of work performed by prisoners

The listed company shall make public announcement of the decision of the board of directors, the opinions of the independent directors and the abstract of the report on the material assets reorganization at least in one of the press designated by the CSRC, and shall disclose the full text of the report on the material assets reorganization and the report or opinions of relevant securities service organs in the website of the stock exchange.

Section 5 Directors, Supervisors and Senior Managers

Mr. Igor Belikov Russian Institute of Directors