Sch 8 para 3
The directors’ remuneration report must contain a statement by the director who fulfils the role of chair of the remuneration committee (or, where there is no such person, by a director nominated by the directors to make the statement) summarising for the relevant financial year— (a) the major decisions on directors’ remuneration; (aa) any discretion which has been exercised in the award of directors’ remuneration; (b) any substantial changes relating to directors’ remuneration made during the year; and (c) the context in which those changes occurred and decisions have been taken.