For accounting periods commencing on or after 29 June 2010, the key source of corporate governance (www.practicallaw.com/5-107-5997)recommendations for companies with a premium listing (www.practicallaw.com/0-501-4233). The UK Corporate Governance Code (June 2010) (www.practicallaw.com/5-502-4036) consists of principles of good governance, most of which have their own set of more detailed provisions which amplify the principles. The principles deal with the following areas:
Relations with shareholders.
A new edition of the Code was published in September 2012, the UK Corporate Governance Code (September 2012) (www.practicallaw.com/9-521-6175), which applies to reporting periods beginning on or 1 October 2012. The FRC has confirmed that companies reporting on reporting periods beginning before 1 October 2012 should continue to report against the June 2010 edition of the Code, although they are encouraged to consider whether it would be beneficial to adopt some or all of the new provisions in the revised September 2012 edition of the Code earlier than formally expected.
For further details, see Practice note, UK Corporate Governance Code: overview (www.practicallaw.com/9-502-0734). For an annotated version of the Code, see Practice note, Annotated UK Corporate Governance Code: Index (www.practicallaw.com/6-508-2403).