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  • HC-5.5 HC-5.5 Board of Directors' Remuneration

    • HC-5.5.1

      Remuneration of non-executive directors must not include performance-related elements such as grants of shares, share options or other deferred stock-related incentive schemes, bonuses, or pension benefits.

      October 2010

    • HC-5.5.2

      The Board of Directors' remuneration must be capped so that total remuneration is in line with Article 188 of the Company Law, in any financial year and has been approved by the shareholders.

      Amended: April 2015
      Amended: July 2014
      Added: January 2014

    • HC-5.5.3

      If a senior manager is also a director, his remuneration as a senior manager must take into account compensation received in his capacity as a director.

      Added: January 2014

    • HC-5.5.4

      In the years where the bank has not generated any profits it must comply with the approval requirements of Article 188 of the Company Law.

      Added: January 2014

    • HC-5.5.5

      In addition to the requirements of Article 188 of the Company Law, the articles of association regarding remuneration of the board of directors must be in line with the Rules outlined in this Chapter.

      Added: January 2014