Companies Act 2006 (c. 46)

SCHEDULES

Yn ddilys o 06/04/2008

SCHEDULE 10 U.K. Recognised supervisory bodies

Part 3 U.K. Arrangements in which recognised supervisory bodies are required to participate

Supplementary: arrangements to operate independently of body U.K.

25 (1) This paragraph applies for the purposes of—

(a) paragraph 21(b),

(b) paragraph 22(b),

(c) paragraph 23(1)(b), or

(d) paragraph 24(1)(e).

(2) Arrangements are not to be regarded as appropriate for the purpose of ensuring that a thing is done independently of the body unless they are designed to ensure that the body—

(a) will have no involvement in the appointment or selection of any of the persons who are to be responsible for doing that thing, and

(b) will not otherwise be involved in the doing of that thing.

(3) Sub-paragraph (2) imposes a minimum requirement and does not preclude the possibility that additional criteria may need to be satisfied in order for the arrangements to be regarded as appropriate for the purpose in question.