Corporations Regulations 2001

CHAPTER 2D - OFFICERS AND EMPLOYEES  

PART 2D.2 - RESTRICTIONS ON INDEMNITIES, INSURANCE AND TERMINATION PAYMENTS  

Division 2D.2.2 - Termination payments  

REGULATION 2D.2.01   MEANING OF BASE SALARY  

2D.2.01(1)   [ " base salary " ]  

For the definition of base salary in section 9 of the Act, the matters specified in the following table are base salary.

Item	Matter
1	The components of a short-term employee benefit that:
	(a)	are not dependent on the satisfaction of a performance condition; and
	(b)	are specified in paragraphs (a), (c) and (d) of column 3 of item 6 in the table in subregulation 2M.3.03(1) ; and
	(c)	are paid during the relevant period
2	A superannuation contribution that:
	(a)	is not dependent on the satisfaction of a performance condition; and
	(b)	is paid during the relevant period
3	A share-based payment that:
	(a)	is not dependent on the satisfaction of a performance condition; and
	(b)	is specified in column 3 of item 11 in the table in subregulation 2M.3.03(1) ; and
	(c)	is paid during the relevant period
4	A liability or prospective liability to pay tax in respect of a fringe benefit taxable amount under:
	(a)	the Fringe Benefits Tax Assessment Act 1986 ; or
	(b)	the Fringe Benefits Tax Act 1986 ;
	that relates to the provision of a matter specified in item 1, 2 or 3

2D.2.01(2)   [ " relevant period " ]  

For subregulation (1):

(a) if a person has held an office in relation to a company:

(i) throughout a period of more than 12 months; or

(ii) throughout a number of periods of more than 12 months in total;

the relevant period for that person is the last 12 months of that period or the last 12 months of the total period; and

(b) if a person has held an office in relation to a company:

(i) throughout a period of 12 months or less; or

(ii) throughout a number of periods of 12 months or less in total;

the relevant period for that person is that period or the total period.