{
  "url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1987/schedule-4/paragraph-4",
  "json_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1987/schedule-4/paragraph-4.json",
  "legislation": "uksi/1987/2072",
  "legislation_title": "The Building Societies (Accounts and Related Provisions) Regulations 1987",
  "legislation_url": "https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1987",
  "path": "schedule/4/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": "Directors' emoluments",
  "text": "(1) There shall be shown the aggregate amount of the directors' emoluments, and this amount—\n(a) shall include any emoluments paid or receivable by a person in respect of his services as director of the society or in respect of his services, while director of the society, as a director of any associated body of it or otherwise in connection with the management of the affairs of the society or any associated body of it, and\n(b) shall distinguish between emoluments in respect of services as director, whether of the society or its associated bodies, and other emoluments.\n(2) For purposes of this paragraph “emoluments”, in relation to a director, includes fees and percentages, any sums paid by way of expenses allowance (in so far as those sums are charged to United Kingdom income tax), any contributions paid in respect of him under any pension scheme and the estimated money value of any other benefits received by him otherwise than in cash.\n(3) If one person has been chairman of the board of directors throughout the financial year, there shall be shown his emoluments, and otherwise there shall be shown with respect to each person who has been chairman during the year his emoluments so far as attributable to the period during which he was chairman.\n(4) With respect to all the directors (other than any who discharged their duties as such wholly or mainly outside the United Kingdom), there shall be shown—\n(a) the number (if any) who had no emoluments or whose several emoluments amounted to not more than £5,000); and\n(b) by reference to each pair of adjacent points on a scale whereon the lowest point is £5,000 and the succeeding ones are successive integral multiples of £5,000, the number (if any) whose several emoluments exceeded the lower point but did not exceed the higher.\n(5) If, of the directors (other than any who discharged their duties as such wholly or mainly outside the United Kingdom), the emoluments of one only exceed the relevant amount, his emoluments (so far as so ascertainable) shall also be shown.\n(6) If, of the directors (other than any who discharged their duties as such wholly or mainly outside the United Kingdom), the emoluments of two or more exceed the relevant amount, the emoluments of him (or them, in the case of equality) who had the greater or, as the case may be, the greatest shall also be shown.\n(7) For the purposes of subparagraphs (5) and (6) above “the relevant amount”—\n(a) if one person has been chairman throughout the financial year, means the amount of his emoluments; and\n(b) otherwise, means an amount equal to the aggregate of the emoluments, so far as attributable to the period during which he was chairman, of each person who has been chairman during the financial year.\n(8) There shall under subparagraphs (3) to (6) above be brought into account as emoluments of a person all such amounts (other than contributions paid in respect of him under a pension scheme) as in his case are to be included in the amount shown under subparagraph (1) above.\n(9) There shall be shown—\n(a) the number of directors who have waived rights to receive emoluments in the present financial year or in the future which, but for the waiver, would have fallen to be included in the amount shown under subparagraph (1) above in the present annual accounts or in future annual accounts; and\n(b) the aggregate amount of those emoluments.\n(10) For the purposes of subparagraph (9) above, it shall be assumed—\n(a) that a sum not receivable in respect of a period would have been paid at the time at which it was due to be paid, and\n(b) that if such a sum (being a sum the right to receive which has been waived) was payable only on demand, it was due to be paid at the time of the waiver.\n(11) There shall be shown the aggregate amount of directors' or past directors' pensions.\n(12) The amount referred to in subparagraph (11) above shall not include any pensions paid or receivable under a pension scheme if the scheme is such that the contributions under it are substantially adequate for the maintenance of the scheme but, subject to that, shall include any pension paid or receivable in respect of any such services of a director or past directors as are mentioned in subparagraph (1) above, whether to him or by him or, on his nomination or by virtue of dependence on or other connection with him, to or by any other person.\n(13) The amount shown under subparagraph (11) above shall distinguish between pensions in respect of services as director, whether of the society or its associated bodies, and other pensions.\n(14) There shall be shown the aggregate amount of any compensation to directors or past directors in respect of loss of office, and that amount—\n(a) shall include any sums paid to or receivable by and any benefit received otherwise than in cash by a director, or past director, by way of compensation for loss of office as director of the society or for the loss, while director of the society or on or in connection with his ceasing to be a director of it, of any other office in connection with the management of the society’s affairs or of any office as director or otherwise in connection with the management of the affairs of any associated body of the society, and\n(b) shall distinguish between compensation in respect of the office of director, whether of the society or its associated body, and compensation in respect of other offices,\nand for this purpose compensation for loss of office shall be taken to include sums paid as consideration for or in connection with a person’s retirement from office.\n(15) The amount to be shown under this paragraph includes in each case all sums relevant to that case paid by or receivable from—\n(a) the society,\n(b) the society’s associated bodies, and\n(c) any other person,\nand the amount to be shown under subparagraph (14) shall distinguish between the sums respectively paid by or receivable from the society, the society’s associated bodies and persons other than the society and its associated bodies.\n(16) The amount to be shown for any financial year under this paragraph comprises the sums receivable in respect of that year (whenever paid) or, in the case of sums not receivable in respect of a period, the sums paid during that year, but where any sums paid by way of expenses allowance in that financial year are charged to United Kingdom income tax after the end of that financial year, those sums shall, to the extent to which the liability is charged, instead be shown in a note to the first accounts in which it is practicable to show them and shall be distinguished from the amounts to be shown apart from this provision.\n(17) Regulation 5(2)(b) above shall not apply to this paragraph.\n(18) In this paragraph—\n(a) “pension” includes any superannuation allowance, superannuation gratuity or similar payment,\n(b) “pension scheme” means a scheme for the provision of pensions in respect of services as director or otherwise which is maintained in whole or in part by means of contributions,\n(c) “contribution” in relation to a pension scheme, means any payment (including an insurance premium) paid for the purposes of the scheme by or in respect of persons rendering services in respect of which pensions will or may become payable under the scheme, except that it does not include any payment in respect of two or more persons if the amount paid in respect of each of them is not ascertainable, and\n(d) references to a society’s associated body, in respect of any services to it, shall be taken as referring to a body which was an associated body at the time at which those services were rendered.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "revoked",
      "affecting": "uksi/1991/2086",
      "affecting_title": "The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1991"
    },
    {
      "type": "added",
      "affecting": "uksi/1991/2086",
      "affecting_title": "The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1991"
    },
    {
      "type": "amended",
      "affecting": "uksi/1991/2086",
      "affecting_title": "The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1991"
    },
    {
      "type": "added",
      "affecting": "uksi/1991/2086",
      "affecting_title": "The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 1991"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/2072/schedule/4/paragraph/4",
    "retrieved_at": "2026-10-29T16:16:29.421538+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}