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23 Oct 2003
The move, which demands a full explanation under the combined code on corporate governance, which comes in to force next month, has led the Association of British Insurers and the National Association of Pension Funds, to demand an explanation as soon as possible.
A spokesman for NAPF said: 'We have been in touch with Barclays. We would expect them to have an explanation in mind, and wonder why we have to wait until next year to hear it.'
Diane Hay, chief executive of ProShare, told Accountancy Age that a written explanation to shareholders should be forthcoming.
Shareholder, Legal & General, has also expressed concern and said it was 'awaiting an explanation'.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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