CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Board Committees
The NRC of Himalaya Foods Ltd, a listed company, has recommended a remuneration policy. The Board approved it. Under Section 178(4), what must the company do with the policy?
The company must place the remuneration policy on its website, if it has one, and disclose the policy's salient features, any changes, and the web address in the Board's report. Section 178(4) proviso sets this requirement; no special resolution is needed.
- AFile it with the Registrar within thirty days without any other disclosure
- BKeep it confidential and disclose only the total remuneration paid
- CPlace it on the website, if any, and disclose its salient features, changes and web address in the Board's reportCorrect
- DPlace it before members for approval by special resolution
Explanation
The proviso to Section 178(4) requires the policy to be placed on the company's website, if any, and its salient features and changes, with the web address, to be disclosed in the Board's report. No special resolution or RoC filing is prescribed there.
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