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38.—(1) In these regulations, subject to the provisions of paragraph (2) and regulations 39 and 40 the expression “emoluments” means
(2) Where fees or other variable payments were paid to an officer as part of his emoluments during any period immediately preceding the loss or diminution, the amount in respect of fees or other variable payments to be included in the annual rate of emoluments shall be the annual average of the fees or other payments paid to him during the period of 5 years immediately preceding the loss or diminution, or such other period as the Secretary of State may think reasonable in the circumstances.
(3) For the purposes of these regulations, the annual rate of emoluments, in relation to any employment which has been lost or the emoluments whereof have been lost or diminished, shall be the amount described in (a), (b) or (c) of this paragraph, whichever is the greater—
(a)the emoluments received by him in the period of 12 months immediately preceding the loss or diminution;
(b)in the case of emoluments payable monthly, the emoluments payable in respect of the last complete month immediately preceding the loss or diminution multiplied by 12; or
(c)in the case of emoluments payable weekly, the emoluments payable in respect of the last complete week immediately preceding the loss or diminution multiplied by 52.
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