The Company Accounts (Disclosure of Directors' Emoluments) Regulations 1997

Minor and consequential amendments

6.—(1) For subsection (3) of section 246 of the 1985 Act (special provisions for small companies)(1) there shall be substituted the following subsection—

“(3) The company’s individual accounts for the year—

(a) may give the total of the aggregates required by paragraphs (a), (c) and (d) of paragraph 1(1) of Schedule 6 (emoluments and other benefits etc. of directors) instead of giving those aggregates individually; and

(b) need not give the information required by—

(i) paragraph 4 of Schedule 5 (financial years of subsidiary undertakings);

(ii) paragraph 1(2)(b) of Schedule 6 (numbers of directors exercising share options and receiving shares under long term incentive schemes);

(iii) paragraph 2 of Schedule 6 (details of highest paid director’s emoluments etc.); or

(iv) paragraph 7 of Schedule 6 (excess retirement benefits of directors and past directors).”

(2) In paragraph 10 of Schedule 6 (supplementary)—

(a) in sub-paragraph (1), for the words “paragraphs 1, 7, 8 and 9” there shall be substituted the words “this Part of this Schedule”, and

(b) sub-paragraph (3) shall be omitted.

(3) In paragraph 11(1) of that Schedule, for the words “paragraphs 1, 7, 8 and 9” there shall be substituted the words “this Part of this Schedule”.

(4) In sub-paragraph (2) of paragraph 13 of that Schedule (interpretation), the words “(including any provision of this Part of this Schedule referring to paragraph 1)” shall be omitted.

(5) For sub-paragraph (3) of that paragraph there shall be substituted the following sub-paragraph—

“(3) The following definitions apply—

(a) ‘pension scheme’ has the meaning assigned to ‘retirement benefits scheme’ by section 611 of the Income and Corporation Taxes Act 1988(2);

(b) ‘retirement benefits’ has the meaning assigned to relevant benefits by section 612(1) of that Act.”

(1)

Section 246 was substituted by regulation 2 of S.I. 1997/220.

(2)

1988 c. 1.