Paragraph 4

(1)

The SPCB must pay a grant (an “office-holder resettlement grant”) to an individual who—

(a)

stops being the holder of a pensionable office, and

(b)

is not appointed as the holder of a pensionable office during the following 90 days.

(2)

The amount of an office-holder resettlement grant is to be equal to the appropriate percentage of the annual office-holder salary payable to the individual when the individual left office.

“appropriate percentage” means—
1. (a)
  in the case of the Presiding Officer or First Minister, the higher of—
  1. (i)
    50%, and
  2. (ii)
    X%, “X” being equal to—
    $\frac{A}{12} \times 100$
    where “A” is the number of complete continuous years for which the individual has been Presiding Officer or First Minister (up to a maximum of 12),

(b)

in any other case, 25%.

(3)

An office-holder resettlement grant is not payable—

(a)

to the personal representatives of an individual who—

(i)

stops holding a pensionable office because he or she dies, or

(ii)

dies during the period of 90 days after the individual stops holding a pensionable office, or

(b)

to any individual who, on the day this paragraph comes into force, is or has been—

(i)

the Presiding Officer, or

(ii)

the First Minister.