Codes of Practice
In this section you can download reports outlining our approach to governance.
On 1 October 2008, a new statutory duty under section 175(1) of the Companies Act 2006 came into force. This provides that a director of a company must avoid a situation in which he/she has, or can have, or a connected person has or can have, a direct or indirect interest that conflicts or possibly may conflict with the interests of Northern Foods plc (the 'Company').
The Company has procedures in place to deal with the situation where a director has a conflict of interest and intends to report annually on the effectiveness of these procedures.
A code of practice on conflicts of interest was approved by the Board on 1 October 2008. As part of this process for dealing with conflicts, the members of the Board will endeavour to:
- consider each conflict situation separately on its particular facts;
- keep records and board minutes as to authorisations granted by directors and the scope of any approvals given; and
- annually review conflict authorisations.
