Article 9810 Dec 2018 17:36
Whilst I listen to our politicians argue about leaving the EU I thought that I should respond to roses posts about pensions. roses is wrong - the current legal authority for paying Directors is as below. It is far more generous than most understand.
The link is to the articles... article 98 is worth reading so I have copied and pasted it.
https://valirx.wpengine.com/wp-content/uploads/2015/05/Articles-of-Association-ValiRx-PLC.pdf
98 Directors’ Pensions And Other Benefits 98.1 The Board may establish, maintain, participate in or contribute to or procure the establishment or maintenance of, participation in or contribution to any pension, superannuation, benevolent or life assurance fund, scheme or arrangement (whether contributory or otherwise) for the benefit of, and give or procure the giving of donations, gratuities, pensions, allowances, benefits and emoluments to, any persons who are or were at any time in the employment or service of or who have at any time been Directors of the Company or of any company which is or was a member of the Group or any of their predecessors in business (and for any member of his family, including a spouse or civil partner or former spouse or former civil partner or a V0505/ 00009/80714035 v.2 person who is or was dependent on him). Any Director or former Director shall be entitled to participate in and retain for his own benefit any such donations, gratuities, pensions, allowances, benefits or emoluments. The Board may arrange for this to be done by the Company either alone or in conjunction with any other person. 98.2 Subject to the Statutes, the Board may establish and maintain any employees’ share scheme, share option or share incentive scheme and establish and (if any such scheme so provides) contribute to any scheme for the purchase by or transfer, allotment or issue to trustees of shares in the Company or its holding company to be held for the benefit of employees (including Directors) of the Comp
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