Financial: DTi aims to name and shame
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Late payment The DTi is warning companies which fail to disclose the average time they take to pay their suppliers that ultimately such offenders will be "named and shamed". Disclosure is a legal requirement for PLCs and large subsidiaries under the Companies Act 1985 (Directors' Report) (Statement of Payment Practice) Regulations 1997.
The warning follows preliminary findings that of the 1,200 companies which have lodged their latest statutory accounts (out of an expected 12,000), only 46% disclosed their payment times.
Combined code The corporate governance Combined Code has now been published.
Although the code is voluntary, changes have been made to Chapter 12 of the Listing Rules which require companies submitting accounting annual reports and accounts for periods ending on or after 31 December 1998 to explain how they have applied the principles and complied with the code.
Copies of the code cost £11.50 from Gee Publishing, phone 0171 393 7666/7667. The Listing Rules are available from the London Stock Exchange's information centre, phone 0171 797 3784.
Any queries on the code and related listing rules should be directed to the Listing Department Helpdesk on 0171 797 3333 (request option 6).