# The Company Accounts (Disclosure of Directors' Emoluments) Regulations 1997, Regulation 5: Compensation to directors for loss of office


(1) In sub-paragraph (2)(b) of paragraph 8 of Schedule 6 (compensation to directors for loss of office), the words from “and shall distinguish” to the end shall be omitted.
(2) For sub-paragraph (4) of that paragraph there shall be substituted the following sub-paragraphs—
“(4) In this paragraph, references to compensation for loss of office include the following, namely—
(a) compensation in consideration for, or in connection with, a person’s retirement from office; and
(b) where such a retirement is occasioned by a breach of the person’s contract with the company or with a subsidiary undertaking of the company—
(i) payments made by way of damages for the breach; or
(ii) payments made by way of settlement or compromise of any claim in respect of the breach.
(5) Sub-paragraph (6)(a) of paragraph 1 applies for the purposes of this paragraph as it applies for the purposes of that paragraph.”

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Source: https://www.legislation.gov.uk/uksi/1997/570/regulation/5 (the official version)
Page: https://openlegislation.uk/company-accounts-disclosure-of-directors-emoluments-regulations-1997/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.