Paragraph 9 Sums paid to third parties in respect of directors' services

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)

There shall be shown the aggregate amount of any consideration paid to or receivable by third parties for making available the services of any person—

(a)

as a director of the society, or

(b)

while director of the society—

(i)

as director of any of its associated bodies, or

(ii)

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

(2)

(a)

The reference in subparagraph (1) to consideration includes benefits paid or receivable otherwise than in cash; and in relation to such consideration the reference to its amount is to the estimated money value of the benefit.

(b)

The nature of any such consideration shall be disclosed.

(3)

The reference in subparagraph (1) to third parties is to persons other than—

(a)

the director himself or a person connected with him or a body corporate associated with him, and

(b)

the society or any of its associated bodies.