Regulation 38 Emoluments

For the purposes of determining whether any and what compensation is payable under these regulations, emoluments in relation to any person shall not include payments for overtime, other than payments which are a usual incident of his employment, or any allowances payable to him to cover the cost of providing office accommodation or clerical or other assistance, or any travelling or subsistence allowance or other moneys to be spent, or to cover expenses incurred by him, for the purposes of his employment, or any fees paid otherwise than in respect of services rendered as an officer or any emoluments paid to him solely by reason of his being a director of a company.

Where fees or other variable payments were paid to a person as part of his emoluments during any period immediately preceding the loss or diminution the amount in respect of fees or other variable payments to be included in the annual rate of emoluments shall be the annual average of the fees or other payments paid to him during the period of 3 years immediately preceding the loss or diminution, or such shorter period as may be reasonable in the circumstances.

When calculating the net annual emoluments of any employment any amount by which the said emoluments exceed £8,000 shall be disregarded.