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Companies Act 2006
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- UK Public General Acts
- 2006 c. 46
- SCHEDULE 13
- Financial provisions
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Changes over time for: Cross Heading: Financial provisions
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- 06/04/2008- Amendment
- 04/01/2024
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Companies Act 2006, Cross Heading: Financial provisions is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Financial provisionsU.K.
4(1)The body must pay to its chairman and members such remuneration, and such allowances in respect of expenses properly incurred by them in the performance of their duties, as the Secretary of State may determine.U.K.
(2)As regards any chairman or member in whose case the Secretary of State so determines, the body must pay or make provision for the payment of—
(a)such pension, allowance or gratuity to or in respect of that person on his retirement or death, or
(b)such contributions or other payment towards the provision of such a pension, allowance or gratuity,
as the Secretary of State may determine.
(3)Where—
(a)a person ceases to be a member of the body otherwise than on the expiry of his term of office, and
(b)it appears to the Secretary of State that there are special circumstances which make it right for that person to receive compensation,
the body must make a payment to him by way of compensation of such amount as the Secretary of State may determine.
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