Which ONE of the following statements is correct in relation to the UK Corporate Governance Code?

Which ONE of the following statements is correct in relation to the UK Corporate Governance Code?
A . If the Code is ignored by any company, no action may be taken as it has no legal status
B . If any company fails to comply with the Code, the directors may be sued for breach of duty by the company on behalf of the shareholders
C . If a public company fails to comply with the Code, it may be sued for breach of statutory duty by those who have suffered loss as a result
D . If a listed public company fails to produce a report explaining why it has not implemented the Code’s recommendations, it has acted in breach of the Code

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Answer: D