Regulation 2 Amendment of regulation 18 of the principal Regulations
In regulation 18 of the principal Regulations (calculation of earnings)f1—
(a)
in paragraph (2) for the words “paragraph (4) or (6)” there shall be substituted the words “paragraph (4), (6) or (8)”;
(b)
after paragraph (7) there shall be added the following paragraph—
“(8)The amount of earnings which is comprised in any payment by way of the conferment of a beneficial interest in any asset falling within paragraph 9ZA, 9ZB or 9B of Schedule 1A to these Regulations and which falls to be taken into account in the computation of a person’s earnings shall, for the purposes of earnings-related contributions, be calculated or estimated on the basis of the cost of the asset in question.”.