(1) Chapter 1 of Part 7 of the Principal Act is amended by inserting the following section after section 192E:

"192F. Exemption in respect of certain education-related payments

(1) In this section -

'the Act' means the Student Support Act 2011;

'awarding authority' has the same meaning as it has in the Act;

'grant' has the same meaning as it has in the Act;

'Minister' means the Minister for Education and Skills;

'student' has the same meaning as it has in the Act.

(2) This section applies to -

(a) a payment made by an awarding authority to or in respect of a student in accordance with a scheme or schemes of grants -

(i) made by the Minister under the Act, or

(ii) confirmed under section 29 of the Act,

or

(b) a payment made -

(i) in accordance with the law of a Member State (other than the State), and

(ii) which corresponds to a payment referred to in paragraph (a).