UK: Combined Code: Proposed Changes

In December 2007, the FRC began a consultation with regard to two changes to the Combined Code on Corporate Governance:

(1) the removal of the restriction preventing an individual from chairing more than one FTSE100 company

(2) for listed companies outside of the FTSE350, to allow the chairman to be a member of, but not chair, of the audit committee providing he or she was considered independent on appointment.

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