(1) The directors' report for a financial year for a company must also include:

(a)

discussion of board policy for determining the nature and amount of emoluments of board members and senior executives of the company; and

(b)

discussion of the relationship between such policy and the company's performance; and

(c)

details of the nature and amount of each element of the emolument of each director and each of the 5 named officers of the company receiving the highest emolument.

(2) This section applies only to a company that is included in an official list of the Exchange. (3) This section applies despite anything in the company's constitution.