5.—(1) Part 3 of Schedule 1 (employment to be disregarded subject to the exceptions in column (B)) to the Social Security (Categorisation of Earners) Regulations 1978(1) is amended as follows.
(2) In column (A), at the end(2), insert—
“14. Employment by the International Finance Corporation(3) (“IFC”) of a person who is—
(a)exempt from tax by virtue of article 3 of, and section 9 of article 6 of the Agreement establishing the IFC as set out in the Schedule to, the International Finance Corporation Order 1955(4), and
(b)a member of a scheme established by or on behalf of the IFC which provides for a pension or any other benefit on cessation of the employment.
15. Employment by the Asian Infrastructure Investment Bank(5) (“AIIB”) of a person who is—
(a)exempt from tax by virtue of regulation 18(2) of the Asian Infrastructure Investment Bank (Immunities and Privileges) Order 2015(6), and
(b)a member of a scheme established by or on behalf of the AIIB which provides for a pension or any other benefit on cessation of the employment.”.
(3) In column (B), at the end, insert—
“14. None.
15. None.”.
S.I. 1978/1689. Part 3 of Schedule 1 was amended by S.Is. 1980/1713, 1984/350, 1994/726, 2005/3133 and 2006/1530.
Paragraph 13 was inserted by S.I. 1994/726 and revoked by S.I. 2006/1530.
The International Finance Corporation was established under an agreement dated 25th May 1955, particulars of which were laid before Parliament by Command of Her Majesty in January 1963 and December 1966 (Cm 1924 and Cm 3155).
S.I. 1955/1954 (“the IFC Order”). Following the repeal of the International Finance Corporation Act 1955 (c. 5), the IFC Order continued to have effect, as if made under section 9 of the Overseas Development and Co-operation Act 1980 (c. 63) (“the 1980 Act”) by virtue of section 9(6) of that Act. Following the repeal of section 9 of the 1980 Act the IFC continues to have effect by virtue of section 17(2) of the Interpretation Act 1978 (c. 30), as if made under section 12 of the International Development Act 2002 (c. 1).
The Asian Infrastructure Investment Bank was established under an agreement done in Beijing on 29th June 2015 particulars of which were laid before Parliament by Command of Her Majesty in September 2015 (Cm 9126).