(1) For the purposes of this Act,
"wages" include the grant of a share or an option by a company to a director
of the company who is not an employee of the company by way of remuneration
for the appointment or services of the director.
(2) For that purpose, the
other provisions of this Division apply in respect of any such grant as if a
reference to the employer were a reference to the company and a reference to
the employee were a reference to the director of the company.
(3) In this
section, a reference to a director of the company includes a reference to the
following--
(a) a person who, under a contract or other arrangement, is to be
appointed as a director of the company,
(4) However, if wages referred to in this section are fringe benefits, the
value of the wages is to be determined in accordance with Division 2 of this
Part (and not this Division).
Note : Section 13 provides that a reference to
an employee in this Act includes a reference to any person to whom any amount
that is treated as wages under this Act is paid or payable. See also section
11, which deems the wages to be paid or payable for services performed.
