Link Report

(3B)Subsection (1) shall not apply to consideration obtained for a relevant disposal effected by an order made under section 28(1) of the Dublin Docklands Development Authority Act, 1997.

(3B)Subsection (1) shall not apply to consideration obtained for a relevant disposal effected by an order made under section 28(1) of the Dublin Docklands Development Authority Act, 1997.

“greyhound race”, “greyhound race track” and “greyhound race track licence” have the same meanings respectively as in section 2 of the Greyhound Industry Act, 1958;

“greyhound race”, “greyhound race track” and “greyhound race track licence” have the same meanings respectively as in section 2 of the Greyhound Industry Act, 1958;

“authorised racecourse” has the same meaning as in section 2 of the Irish Horseracing Industry Act, 1994.

“authorised racecourse” has the same meaning as in section 2 of the Irish Horseracing Industry Act, 1994.

(1) Consideration obtained for a relevant disposal shall not be regarded for the purposes of relief under section 597 as having been obtained for the disposal of old assets within the meaning of that section.

(ii) the new assets within the meaning of section 597,

(c) Section 597 shall apply in relation to assets of an authorised racecourse as if—

(ii) the new assets within the meaning of section 597,

(c)Section 597 shall apply in relation to assets of an authorised greyhound race track as if—

(4) Section 605 shall not apply to a relevant disposal.

(b) Where section 605 applies to a relevant disposal by virtue of this subsection that section shall be construed as if for subsection (4) of that section the following were substituted:

“(4) This section shall apply only if the acquisition of the replacement assets takes place, or an unconditional contract for the acquisition is entered into, in the period beginning 2 years before and ending 8 years after the disposal of the original assets, or at such earlier or later time as the Revenue Commissioners may by notice in writing allow; but, where an unconditional contract for the acquisition is so entered into, this section may be applied on a provisional basis without ascertaining whether the replacement assets are acquired in pursuance of the contract, and when that fact is ascertained all necessary adjustments shall be made by making assessments or by repayment or discharge of tax, and shall be so made notwithstanding any limitation in the Capital Gains Tax Acts on the time within which assessments may be made or any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made .”.