The latest, and understood to be final, iteration of the Companies Amendment Bill (CAB 27B) contains a crucial change unlikely to please the swathes of businesspeople who pushed back against the tougher stance on remuneration contained in the earlier (27th) version.

CAB 27B essentially introduces the two-strike rule, which means nonexecutive directors who are members of the remuneration committee will have to stand down from the board if the remuneration report is rejected for two consecutive years. They can immediately stand for re-election to the board, but cannot be reappointed to the remuneration committee for the following two years...

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