SCHEDULES
F1F1SCHEDULE 6
F2Part IChairman’s and Directors’ Emoluments, Pensions and Compensation for Loss of Office
Sch. 6 Pt. I inserted (the existing Part I renumbered as Part II) by Companies Act 1989 (c. 40, SIF 27), ss. 6(4), 213(2), Sch. 4 para. 3 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9)
CHAPTER 2 PROVISIONS APPLYING ONLY TO UNQUOTED COMPANIES
F3X1Pensions of directors and past directors
There is a version of this provision that is earlier than the first version listed in the table of attributes below. This is because, when the new Chapter 1 Heading was inserted on 1.8.2002 only the version of this provision that was current on that date became associated with that new heading. To view the earlier version, it is recommended that you perform a search for a specific date earlier than the start date of the first version listed in the table of attributes below.
Sch. 6 Pt. I inserted (the existing Part I renumbered as Part II) by Companies Act 1989 (c. 40, SIF 27), ss. 6(4), 213(2), Sch. 4 para. 3 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6-9)
7F4X2Excess retirement benefits of directors and past directors
1
Subject to sub-paragraph (2), there shall be shown the aggregate amount of—
a
so much of retirement benefits paid to or receivable by directors under pension schemes; and
b
so much of retirement benefits paid to or receivable by past directors under such schemes,
as (in each case) is in excess of the retirement benefits to which they were respectively entitled on the date on which the benefits first became payable or 31st March 1997, whichever is the later.
2
Amounts paid or receivable under a pension scheme need not be included in the aggregate amount if—
a
the funding of the scheme was such that the amounts were or, as the case may be, could have been paid without recourse to additional contributions; and
b
amounts were paid to or receivable by all pensioner members of the scheme on the same basis;
and in this sub-paragraph 'pensioner member’, in relation to a pension scheme, means any person who is entitled to the present payment of retirement benefits under the scheme.
3
In this paragraph—
a
references to retirement benefits include benefits otherwise than in cash; and
b
in relation to so much of retirement benefits as consists of a benefit otherwise than in cash, references to their amount are to the estimated money value of the benefit;
and the nature of any such benefit shall also be disclosed.
Sch. 6 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12); and Sch. 6 para. 27(1)(d) and certain words in Sch. 6 paras. 15-17, 19, 22, 24 are expressed to be repealed (6.4.2008 with effect as stated in Sch. 1 para. 90(2) of the amending S.I.) by S.I. 2008/948, arts. 2(1), 3, Sch. 1 para. 90(1), Sch. 2 (with arts. 6, 11, 12)