Regulation 15 Amendment of regulation 48 of the General RegulationsI1

At the end of regulation 48 of the General Regulations (income treated as capital) there shall be added the following paragraph—

“(11)

Any compensation within the meaning of regulation 35(3) (earnings of employed earners) which is made in respect of employment which is not part-time employment within the meaning of that regulation, to the extent that it is not earnings by virtue of regulation 35(1)(i)(i) shall be treated as capital.”.