Paragraph 12 Officers' emoluments

In paragraphs 8 to 11, “emoluments” means payments in respect of an officer’s services as an officer of the registered social landlord or the officer’s services (while an officer of the registered social landlord) in connection with the management of its affairs or the affairs of any subsidiary undertaking of the registered social landlord, whether those amounts are payable by the registered social landlord or its subsidiary undertakings, and includes–

(a)

wages and salaries, including performance related pay, payable for the period of account;

(b)

fees and percentages;

(c)

sums payable by way of expense allowance (so far as chargeable to United Kingdom tax);

(d)

contributions payable in respect of pensions except where otherwise stated; and

(e)

the estimated money value of any other benefits otherwise than in cash,

and emoluments in respect of a person accepting office shall be treated as emoluments in respect of his or her service as officer.