14.—(1) Long-term compensation for diminution of emoluments in respect of any employment shall, subject to the provisions of these regulations, consist of an annual sum calculated in accordance with the provisions of paragraph (2).
(2) The said annual sum shall not exceed the sum that would be the annual sum under the provisions of regulations 13(1) to (4) calculated on the assumptions—
(a)that there was a loss of employment, and
(b)that emoluments after diminution were emoluments of any work or employment undertaken as a result of a loss of employment within the meaning of regulation 12(1)(b).
(3) Long-term compensation for diminution of emoluments shall be payable to a person at intervals equivalent to those at which the emoluments of his employment are or were previously paid or at such other intervals as may be agreed between the person and the compensating authority.