# The Community Interest Company Regulations 2005, Paragraph 12: Other minor definitions

Extent: E+W+S

(1) In this Schedule—
“net value”, in relation to any assets received or receivable by a director, means value after deducting any money paid or other value given by the director in respect of those assets;
“qualifying services”, in relation to any person, means the person’s services as a director of the company, and that person’s services while director of the company—
(a)as director of any of its subsidiary undertakings, or
(b)otherwise in connection with the management of the affairs of the company or any of its subsidiary undertakings.
(2) For the purposes of this Schedule, remuneration paid or receivable or share options granted in respect of a person’s accepting office as a director are treated as emoluments paid or receivable or share options granted in respect of the person’s services as a director.

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Source: https://www.legislation.gov.uk/uksi/2005/1788/schedule/4A/paragraph/12 (the official version)
Page: https://openlegislation.uk/community-interest-company-regulations-2005/schedule-4A/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.