Remuneration etc. of members of the Corporation.
3
1
Schedule 1 to the Commonwealth Development Corporation Act 1978 (supplementary provisions relating to the constitution etc. of the Corporation) shall be amended as follows.
2
For paragraph 3 (which makes provision in relation to the remuneration and allowances of members of the Corporation) there shall be substituted the following paragraph—
3
The Corporation shall pay to the members of the Corporation such remuneration and allowances as may be determined by the Secretary of State.
3
In paragraph 4 (which makes provision in relation to the pensions etc. of members of the Corporation), for the words from “it is determined” to “make provision” there shall be substituted “ it is determined by the Secretary of State to make provision ”.
4
Paragraph 5 (which makes provision in relation to the remuneration and allowances of members of the Corporation who are employed about the affairs of the Corporation) shall cease to have effect.
5
Before paragraph 6 there shall be inserted the following paragraph—
5A
If, when a person ceases to be a member of the Corporation, the Secretary of State determines that there are special circumstances which make it right that he should receive compensation, the Corporation shall pay to him a sum by way of compensation of such amount as the Secretary of State may determine.
Act repealed (8.12.1999) by 1999 c. 20, s. 27, Sch. 4 (with s. 15); S.I. 1999/3258, art. 2
1978 c. 2.