Provisions for reform of director pay are to be included in the Enterprise and Regulatory Reform Bill.
The government's intentions are set out in this document: http://www.bis.gov.uk/assets/biscore/business-law/docs/d/12-900-directors-pay-guide-to-reforms.pdf
ShareSoc has now made a submission of evidence to the Bill Committee, which you can read here: http://www.publications.parliament.uk/pa/cm201213/cmpublic/enterprise/memo/err12.htm
In response to our members' concerns, I feel that the most important parts of our submission relate to voting by those whose shares are held in nominee accounts (paras 15-18) and extension of the proposals to include AIM companies (paras 19-22). We have also made some points in response to the CBI's submission, which is here: http://www.publications.parliament.uk/pa/cm201213/cmpublic/enterprise/memo/err01.htm
Members of the Bill Committee, who are scrutinising the legislation, can be found here: http://services.parliament.uk/bills/2012-13/enterpriseandregulatoryreform/committees/houseofcommonspublicbillcommitteeontheenterpriseandregulatoryreformbill201213.html
If your MP happens to be a bill committee member, and you support our proposals, it would be helpful if you wrote to them, in support and with your own views.
Cheers,
Mark
