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COMBINED CODE |
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COMBINED CODE 2008 ¶5200 The Combined Code was first issued in 1998 and has been updated at regular intervals since then. Two versions are in effect: the 2006 edition, which applies to accounting periods beginning on or after 1 November 2006, and the June 2008 edition, which applies to accounting periods beginning on or after 29 June 2008. The June 2008 edition incorporates the following changes made after a review held during 2007: » remove the restriction on an individual’s chairing more than one FTSE 100 company; and » for listed companies outside the FTSE 350, allow the company chairman to sit on the audit committee where he or she was considered independent on appointment. The June 2008 edition of the Code took effect at the same time as new FSA Corporate Governance Rules implementing EU requirements relating to corporate governance statements and audit committees.
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