Paragraph 4 Aggregate amount of directors' emoluments

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch.5, para 5(3)(e) rev. in Pt. by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(i)
Sch.5, para 12A added by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(ii)
Sch.5, para 13 amended by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(iii)
Sch.5, para 15(4) replaced (by paras (4)(4A)) by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(iv)
Sch.5, para 15 A added by Building Societies (Accounts and Related Provisions) 1994 reg.2(b)(v)

(1)

The aggregate amount of directors' emoluments shall be shown.

(2)

In subparagraph (1), “directors' emoluments” means the emoluments paid to or receivable by any person in respect of

(a)

his services as a director of the society, or

(b)

his services while director of the society—

(i)

as director of any of its associated bodies

(ii)

otherwise in connection with the management of the affairs of the society or any of its associated bodies.

(3)

There shall also be shown, separately, the aggregate amount within subparagraph 2(a) and 2(b)(i) and the aggregate amount within subparagraph 2(b)(ii).

(4)

For the purposes of this paragraph the “emoluments” of a person include—

(a)

fees and percentages,

(b)

sums paid by way of expenses allowance (so far as those sums are chargeable to United Kingdom income tax),

(c)

contributions paid in respect of him under any pension scheme, and

(d)

the estimated money value of any other benefits received by him otherwise than in cash, and emoluments in respect of a person’s accepting office as director shall be treated as emoluments in respect of his services as director.