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Paragraph 11 Directors' remuneration, etc.

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In paragraph 10 above, “compensation” means compensation received or receivable for–

(a)

loss of office as a director of the registered housing association, or

(b)

loss, while a director of the registered housing association or in connection with ceasing to be a director of that body, of–

(i)

any other office in connection with the registered housing association’s affairs; or

(ii)

any office as director or otherwise in connection with the management of the affairs of any subsidiary undertaking of the registered housing association,

and includes benefits otherwise than in cash and, in relation to such compensation, references to its amounts are to the estimated money value of the benefit.