Prudential Regulation Authority Rulebook

2.1

Subject to 2.2 to 2.4, a firm must apply the remuneration requirements in relation to:

1. (1) remuneration awarded, whether pursuant to a contract or otherwise, on or after 1 January 2011;
2. (2) remuneration due on the basis of contracts concluded before 1 January 2011 which is awarded or paid on or after 1 January 2011; and
3. (3) remuneration awarded, but not yet paid, before 1 January 2011, for services provided in 2010.

2.2

A firm must apply 15.9(3) and 15.10 in relation to remuneration awarded for services provided or performance from the year 2014 onwards, whether due on the basis of contracts concluded before, on or after 31 December 2013.

[Note: Art. 162(3) of the CRD]

[Note: CRD]

2.3

A firm must apply 15.17(1)(b) and (c), 15.20(2), (3) and (4), 15.23 and 16.1(3) in relation to remuneration awarded in relation to a performance year starting on or after 1 January 2016.

2.4

A firm must apply 15A.2 to 15A.11 in relation to any buy-out agreed into on or after 1 January 2017.

2.5

A firm must apply this Part to remuneration awarded in respect of a performance year starting on or after 29 December 2020.

2.6

A firm must apply this Part in accordance with 2.1 to 2.4 as it applied under those rules as of 28 December 2020 to remuneration awarded in respect of a performance year starting before 29 December 2020.