Paragraph 11 References to subsidiary undertakingsF1

England, Wales and Scotland

(1)

Any reference in this Schedule to a subsidiary undertaking of the company, in relation to a person who is or was, while a director of the company, a director also, by virtue of the company’s nomination (direct or indirect) of any other undertaking, includes that undertaking, whether or not it is or was in fact a subsidiary undertaking of the company.

(2)

Any reference to a subsidiary undertaking of the company—

(a)

for the purposes of paragraph 1 (remuneration etc.) is to an undertaking which is a subsidiary undertaking at the time the services were rendered, and

(b)

for the purposes of paragraph 2 (compensation for loss of office) is to a subsidiary undertaking immediately before the loss of office as director.

Annotations

Textual amendments

F1: Sch. 4A inserted (7.8.2018 with application in accordance with reg. 1(3) of the amending S.I.) by The Companies (Miscellaneous Reporting) Regulations 2018 (S.I. 2018/860), reg. 1(3), Sch.