FRC publishes updated combined code

The Financial Reporting Council has published an updated version of the Combined Code on Corporate Governance.

A small number of changes have been made to the previous version of the Combined Code, which was published in 2003. These will enable the company chairman to sit on the remuneration committee if considered independent on appointment; provide shareholders voting by proxy with the option of withholding their vote on a resolution; and encourage companies to publish the details of proxies lodged on resolutions where votes are taken on a show of hands.

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