Pension benefits for chairmen
8In the case of any such person, who is or has been the chairman of the corporation, as the Secretary of State may with the consent of the Minister for the Civil Service determine, the Secretary of State may direct the corporation—
(a)to pay to or in respect of that person on his retirement or death such pension, allowance or gratuity as may be so determined; or
(b)to make payments towards the provision of such a pension, allowance or gratuity.