(1) In this Chapter a "payment for loss of office" means a payment made to a director or past director of a company - (a) by way of compensation for loss of office as director of the company, (b) by way of compensation for loss, while director of the company or in connection with his ceasing to be a director of it, of - (i) any other office or employment in connection with the management of the affairs of the company, or (ii) any office (as director or otherwise) or employment in connection with the management of the affairs of any subsidiary undertaking of the company, (c) as consideration for or in connection with his retirement from his office as director of the company, or (d) as consideration for or in connection with his retirement, while director of the company or in connection with his ceasing to be a director of it, from - (i) any other office or employment in connection with the management of the affairs of the company, or (ii) any office (as director
…Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 10 June 2019 - onwards