Enterprise and Regulatory Reform Bill — Clause 61 — Consultation of Employee Representative Before Quoted Company Changes Policy on Director Pay — 17 Oct 2012 at 16:30
Oliver Letwin MP, West Dorset voted against requiring a representative of a quoted company's employees be consulted before the director's remuneration policy is revised.
The majority of MPs voted against requiring a representative of a quoted company's employees be consulted before the director's remuneration (pay and benefits) policy is revised.
MPs were considering the Enterprise and Regulatory Reform Bill. The amendment rejected in this vote was:
- Amendment 93, page 51, line 23, at end insert—
- ‘(1A) A representative of the company’s employees must be consulted in the preparation of any such revision.’.
Had it not been rejected this subsection would have been added to Clause 61 of the Bill which related to Payments to directors of quoted companies and specifically Members’ approval of directors’ remuneration policy. The paragraph before the one to be inserted stated:
- The directors’ remuneration policy contained in a company’s directors’ remuneration report may be revised.
-  Parliament's webpage on the Enterprise and Regulatory Reform Bill (now an Act)
-  Clause 61 of the Enterprise and Regulatory Reform Bill as at the time of the vote
Votes by party, red entries are votes against the majority for that party.
What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.
What is Turnout? This is measured against the total membership of the party at the time of the vote.
|Party||Majority (No)||Minority (Aye)||Both||Turnout|
|Con||235 (+1 tell)||0||0||77.4%|
|Lab||0||203 (+2 tell)||0||80.4%|
|LDem||42 (+1 tell)||0||0||75.4%|