Remuneration etc
4(1)There shall be paid to the Director such remuneration and such travelling and other allowances as the Secretary of State may determine.
(2)In the case of any such holder of the office of Director as may be determined by the Secretary of State, there shall be paid such pension, allowances or gratuities to or in respect of him, or such payments towards the provision of a pension, allowances or gratuities to or in respect of him, as may be so determined.
(3)If the Secretary of State determines that there are special circumstances which make it right that a person ceasing to hold office as Director should receive compensation, there may be paid to him a sum by way of compensation of such amount as the Secretary of State may determine.
(4)Sub-paragraph (3) above does not apply in the case of a person who receives compensation by virtue of paragraph 3(6) above.
(5)The approval of the Treasury shall be required for the making of a determination under this paragraph.