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Difference between revisions of "10 Changes in the New Societies Act You Should Know About"
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10 Changes in the New Societies Act You Should Know About (view source)
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== | ==Remuneration paid to directors and certain employees and contractors must be disclosed== | ||
Under the new Act, a society must disclose any remuneration paid to a director. Remuneration is money or other compensation paid for work or services performed. Amounts paid to a director for being a director and for acting in any other capacity must be disclosed separately. The disclosure must be made in a note to the annual financial statements, which are available to society members and to the public. | Under the new Act, a society must disclose any remuneration paid to a director. Remuneration is money or other compensation paid for work or services performed. Amounts paid to a director for being a director and for acting in any other capacity must be disclosed separately. The disclosure must be made in a note to the annual financial statements, which are available to society members and to the public. | ||
