(1) A traded PLC shall -
(a) prepare a policy regarding the remuneration of its directors in accordance with subsection (6) (in this section referred to as a 'remuneration policy'), and
(b) cause a vote on the remuneration policy (in this section referred to as a 'remuneration vote') to be held at a general meeting of the traded PLC.
(2) Subject to any provision of the traded PLC's constitution making a remuneration vote binding on the traded PLC (in this section referred to as a 'binding vote'), a remuneration vote shall be advisory (in this section referred to as an 'advisory vote').
(a) Subject to subsection (8), where a remuneration policy is approved by a binding vote, the traded PLC shall pay remuneration to its directors in accordance with the remuneration policy to which that vote related.
(b) Where a binding vote is held on a remuneration policy, and the remuneration policy is not approved by that vote, the traded PLC shall –
(i) prepare a revised remuneration policy and
…