Section 226C | Loss of office payments ^F1

(1)No payment for loss of office may be made by any person to a person who is, or has been, a director of a quoted company ... unless—^F2

(a)the payment is consistent with the approved directors' remuneration policy, or

(b)the payment is approved by resolution of the members of the company.^F3

(2)The approved directors' remuneration policy is the most recent remuneration policy to have been approved by a resolution passed by the members of the company in general meeting.