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
Answer: D