3. (1) Unless the provisions in subparagraph (2) are applied, a qualifying person who has borne or paid tax on—

(a) the supply to such person or the hiring or leasing (other than hiring or leasing for a period of less than six consecutive months) to such person, or

(b) the intra-Community acquisition or importation by such person,

of a qualifying vehicle which is for use by such person in the State in the business of the carriage for reward of tourists by road under contracts for group transport shall, subject to the conditions specified in paragraph 4, be repaid the full tax so borne or paid provided that—

(i) the supply, intra-Community acquisition or importation of the vehicle which gave rise to such tax occurred when the vehicle was not more than two years old, or

(ii) the hiring or leasing of the vehicle (other than hiring or leasing for a period of less than six consecutive months) which gave rise to such tax was on the basis of a contract for such hire or lease first entered into when the vehicle was not more than two years old.

(2) A qualifying person who is a taxable person and who becomes liable for tax in the State in respect of the intra-Community acquisition of a qualifying vehicle may, in lieu of claiming repayment under subparagraph (1), elect to deduct the tax chargeable in respect of that acquisition in the return which such person is obliged to furnish, concerning that acquisition, in accordance with section 19 (3) (inserted by section 84 of the Finance Act, 1983 (No. 15 of 1983)) of the Act.

(3) The provisions of this paragraph shall apply only where—

(a) the supply, hire, lease, intra-Community acquisition or importation, as the case may be, referred to in subparagraph (1) or (2) occurred on or after the date specified in paragraph 1 (2), and

(b) the qualifying person is not entitled to a deduction or repayment—

(i) by any other provision of the Act or regulations made thereunder, or

(ii) under any other enactment administered by the Revenue Commissioners,

of any portion of the tax paid or payable in respect of the qualifying vehicle.