Section 198 & Section 309

The Dude (Specialist- Finance) (303 Points)

24 April 2011  


Section 198 says the maximum remuneration that is payable to a director should not exceed 11% of the Net Profits of the Company

Section 309 says if the max remuneration exceeds 10% of the net profits then CG approval is required

So does it mean that if it is 11%, then CG approval is required????