Transcription of Chapter 9: Corporate governance
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Chapter 9: Corporate governance
Office of the Regulator of Community Interest Companies: Information and guidance notes Chapter 9: Corporate governance MAY 2016 Chapter 9 2 Contents Role of Directors and Members .. 3 Corporate governance Overview .. 3 The role of the Director .. 3 Members .. 4 Relationship with other stakeholders .. 6 Directors 7 Key points .. 7 CIC Directors may be paid for their services.. 7 General company law rules in relation to director s remuneration .. 8 The community interest test, the asset lock & remuneration .. 9 Charitable trustees as directors of a subsidiary trading company .. 10 Payment of a charity trustee for services as a director .. 10 What is reasonable remuneration?.. 10 Particular responsibilities, skills and expertise of individual directors .. 11 Nature, size and performance of the company s business.
Chapter 9 6 9.2. Relationship with other stakeholders Like all other companies CICs will have a number of stakeholders such as members, directors, employees, customers etc, but it is an important principle that a CIC should have
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