There shall be paid to a holder of the office of the Regulator or the Franchising Director such remuneration, and such travelling and other allowances, as the Secretary of State may determine.

In the case of any such holder of the office of the Regulator or the Franchising Director as may be determined by the Secretary of State, there shall be paid such pension, allowance or gratuity to or in respect of him, or such contributions or payments towards provision for such a pension, allowance or gratuity, as may be so determined.

If, when any person ceases to hold office as the Regulator or the Franchising Director, the Secretary of State determines that there are special circumstances which make it right that he should receive compensation, there may be paid to him a sum by way of compensation of such amount as may be determined by the Secretary of State.

The approval of the Treasury shall be required for the making of a determination under this paragraph.