Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

UK Corporate Governance Code definition

What does UK Corporate Governance Code mean? In legal practice, the UK Corporate Governance Code describes the governance principles that premium listed companies must report against on a comply or explain basis in their annual report. It is a non-statutory code issued by the Financial Reporting Council, not defined in legislation. Compliance is driven by the FCA Listing Rules, which require a statement on application of the Principles and compliance with, or explanations for departures from, the Provisions. It covers board leadership and purpose, division of responsibilities, board composition and succession, audit, risk and internal controls, remuneration, stakeholder engagement and reporting. It shapes practice on independent non-executive directors,...

UK Corporate Governance Code 2018: applying the Principles and reporting - FCA Listing Rules/DTR disclosures, 'comply or explain', investor expectations, s172 and guidance for premium listed companies

Published by a LexisNexis Corporate expert

Practice notes

STOP PRESS:

A revised UK Corporate Governance Code (UKCG Code) was released on 22 January 2024 (2024 UKCG Code). It introduces only limited amendments to the current UKCG Code, first issued in 2018 (2018 UKCG Code). The 2024 UKCG Code applies to accounting periods commencing on or after 1 January 2025, save for Provision 29, which requires a board declaration on internal controls and applies to accounting periods beginning on or after 1 January 2026. In addition, the best practice guidance supporting the 2018 UKCG Code has been consolidated into a single digital source to sit alongside the 2024 UKCG Code. For further detail, see News Analysis: UK Corporate Governance Code 2024 published—what’s changed? This Resource Note examines those parts of the Introduction to the UK Corporate Governance Code (UKCG Code) that relate to Reporting on, and applying, the UKCG Code. It signposts relevant third party materials, guidance, commentary and analysis, together with our own resources, to provide practical guidance on these issues...

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Web page updated on 22/05/2026

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