26(1)  For the purposes of earnings-related contributions, there shall be excluded from the calculation of a person’s earnings in respect of any employed earner’s employment any payment, or any part of a payment–

(a)which is made by trustees before 6th April 1990;

(b)the amount of which is or may be dependent upon the exercise by the trustees of a discretion or the performance by them of a duty arising under the trust;

(c)not being a sickness payment which by virtue of section 4(1) of the Act (payments treated as remuneration and earnings) is treated as remuneration derived from an employed earner’s employment,

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