Regulation 13 Long-term compensation for diminution of emoluments

Long-term compensation payable for diminution of emoluments shall, subject to the provisions of these regulations, consist of an annual sum payable until the normal retiring age or death of a person to whom it is payable, whichever first occurs, and shall be the amount of the annual diminution which he has suffered assessed in accordance with regulation 11, not however exceeding the annual sum which bears to the maximum annual sum which could have been awarded to him under regulation 12 if he had suffered loss of emoluments the same ratio as the amount by which his net annual emoluments have been diminished bears to his net annual emoluments before diminution, so however that no compensation shall be payable under this regulation if the ratio is less than 2½%.

Long-term compensation determined under this regulation shall be payable to a person by instalments at intervals equivalent to those at which the emoluments of his employment are or were previously paid or at such intervals as may be agreed between the person and the Corporation.