“employer” means any person who is an employer as defined in paragraph 1 of the Fourth Schedule and includes –

 

(a)     any company; and

 

(b)     for the purpose of paragraph 2 and the determination of the cash equivalent of the value of any taxable benefit granted to any person who derives remuneration as defined in the said paragraph from employment in the public service or any administration or undertaking of the State or who holds office under the Republic, the State;