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Employment contributions (exemption from payment, new rates of contributions and increases in earnings ceilings).
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8—(1) Section 10 of the Principal Act is amended by—
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(a) the insertion after subsection (1)(a) of the following subsection:
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“(aa) where in any contribution week a payment of not more than £226 per week (or the equivalent thereof in respect of an employed contributor remunerated otherwise than on a weekly basis) is made to or for the benefit of an employed contributor in respect of reckonable earnings of that contributor relating to an employment, a contribution shall not be payable by that employed contributor in respect of those earnings from that employment.”,
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(b) the substitution in subsection (1)(b) for “a payment” of “a payment of more than £226”,
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(c) the substitution in subsection (1)(c) of “£26,500” for “£25,400” (inserted by section 8(1)(a) of the Act of 1999),
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(d) the substitution in subsection (1)(d) of—
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(i) “7.8 per cent.” for “8.5 per cent.”, and
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(ii) “11.3 per cent.” for “12 per cent.”,
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(both inserted by section 8(1)(c) of the Act of 1996),
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(e) the substitution in subsection (1)(e) (inserted by section 8(1)(c) of the Act of 1999) of “£36,600” for “£35,000”, and
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(f) the substitution in subsection (7) (inserted by section 12 of the Act of 1996) of “7.8 per cent.” for “8.5 per cent.” and of “11.3 per cent.” for “12 per cent.”.
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(2) This section, other than subsection (1)(d) and (f), comes into operation on 6 April 2000.
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(3) Subsection (1)(d) and (f) comes into operation on such day or days as the Minister may appoint by order.
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