Section 43 Compensation for loss of office or diminution of emoluments.C1

Where any person—

compensation in respect of any such loss or diminution suffered by him shall be paid only in accordance with regulations made under section 24 of the M1Superannuation Act 1972.

Accordingly, none of the bodies mentioned in subsection (1) shall pay any such compensation under any other statutory provision, by virtue of any provision in a contract or otherwise.

Subsections (1) and (2) do not preclude the making of any payment to which a person is entitled by virtue of contractual rights acquired by him before 1st December 1993.

No compensation shall be payable under regulations made under the M2Superannuation Act 1972, to or in respect of a person to whom subsection (1) applies, in respect of any loss or diminution attributable to the termination of a late contract on or before 1st April 1996.

In subsection (4)—

• “late contract” means a contract which is made after 30th November 1993 and provides for the employment of the person concerned for a fixed term extending beyond 31st March 1996; and

• “loss or diminution” means loss or diminution of a kind mentioned in subsection (1).

For the purpose of determining under F2section 138 or 141 of the Employment Rights Act 1996—

there shall be treated as forming part of the remuneration payable under the new contract any compensation to which that person is or, if he accepted the offer, would be entitled in accordance with this section.

Subject to subsection (6), nothing in this section shall be taken to affect any entitlement to a redundancy payment under F3Part XI of the Employment Rights Act 1996 or to any payment by virtue of any provision of the M3Superannuation Act 1972 other than section 24 of that Act.