ABSTRACT
This chapter looks at the development of corporate governance – and its rapid acceleration in the last part of the last century – this chapter reviews the ‘landscape’ of governance now existing in the UK. It covers the controlling legislation, the regulations and recommendations. The major features of current corporate governance divided into three areas – legislation; significant regulation; and other regulation of note. From the point of view of effective corporate governance, the single most significant (though not most important) effect of the Companies Act 2006 was to abolish the requirement that companies must have a qualified company secretary. The Listing Requirements embody the most recent iteration of the UK Corporate Governance Code. Companies are expected to comply with provisions in the code on executive pay, on the ‘comply or explain’ principle of disclosure and with the obligations regarding shareholder protection and the release of information to the market.
