We have the Corporate Governance Code, we have the Listing Rules and we have a whole raft of best practice guidelines. So you can say the structure is already there and therefore why do we need anything different? But I think perhaps in line with the general comply or explain principle perhaps people have been less careful about complying with the codes
And also there’s no real shareholder break on non-compliance which I think is something that has been missing.
But the new legislation is obviously moving towards greater empowerment of shareholders which I think will enhance and make the existing governance code and regime more effective.