Link Report

25. Where throughout the year of assessment 1993-94 all the assets of a unit trust were assets, whether mentioned in section 19 of the Capital Gains Tax Act, 1975, or in any other provision of that Act, or of any other enactment relating to capital gains tax, to which section 19 of the Capital Gains Tax Act, 1975, applied, the units in the unit trust shall for that year be deemed not to be chargeable assets for the purposes of the Capital Gains Tax Acts.

25. Where throughout the year of assessment 1993-94 all the assets of a unit trust were assets, whether mentioned in section 19 of the Capital Gains Tax Act, 1975, or in any other provision of that Act, or of any other enactment relating to capital gains tax, to which section 19 of the Capital Gains Tax Act, 1975, applied, the units in the unit trust shall for that year be deemed not to be chargeable assets for the purposes of the Capital Gains Tax Acts.

25. Where throughout the year of assessment 1993-94 all the assets of a unit trust were assets, whether mentioned in section 19 of the Capital Gains Tax Act, 1975, or in any other provision of that Act, or of any other enactment relating to capital gains tax, to which section 19 of the Capital Gains Tax Act, 1975, applied, the units in the unit trust shall for that year be deemed not to be chargeable assets for the purposes of the Capital Gains Tax Acts.

25. Where throughout the year of assessment 1993-94 all the assets of a unit trust were assets, whether mentioned in section 19 of the Capital Gains Tax Act, 1975, or in any other provision of that Act, or of any other enactment relating to capital gains tax, to which section 19 of the Capital Gains Tax Act, 1975, applied, the units in the unit trust shall for that year be deemed not to be chargeable assets for the purposes of the Capital Gains Tax Acts.

(a) such part of a loss, including any amount to be treated as a loss under section 316 of the Income Tax Act, 1967, incurred by the company in a trade before the date on which the company comes within the charge to corporation tax in respect of the trade and which, but for the Corporation Tax Act, 1976, could have been carried forward to the year 1976-77 under section 309 of the Income Tax Act, 1967, and

(a) the total of the amounts which under section 25 of the Finance Act, 1964, could (on the assumption that for corporation profits tax purposes an accounting period of the company ended on the 5th day of April, 1976, and a new accounting period commenced on the 6th day of April, 1976, and the enactments in relation to corporation profits tax mentioned in the Third Schedule to the Corporation Tax Act, 1976, had not been repealed) have been deducted from or set off against profits of the company’s business in an accounting period commencing on the 6th day of April, 1976, and

(b) the total of the amounts by which under subsections (1) and (3) of section 181 of the Corporation Tax Act, 1976, losses and allowances in respect of capital expenditure were reduced for the purposes of corporation tax;

(2) Where for any accounting period an election was made under section 174(3) of the Corporation Tax Act, 1976, all amounts which under section 25 of the Finance Act, 1964, could be deducted from or set off against profits of the company’s trade or business for that accounting period, computed without regard to section 174(3) of the Corporation Tax Acts, 1976, shall be deemed to have been so deducted or set off and shall not be included in the computation of any relevant deficiency for the purposes of this paragraph.

(2) Where for any accounting period an election was made under section 174(3) of the Corporation Tax Act, 1976, all amounts which under section 25 of the Finance Act, 1964, could be deducted from or set off against profits of the company’s trade or business for that accounting period, computed without regard to section 174(3) of the Corporation Tax Acts, 1976, shall be deemed to have been so deducted or set off and shall not be included in the computation of any relevant deficiency for the purposes of this paragraph.

(b) Relief shall not be allowed against corporation tax payable for any accounting period against the profits of which (if the Corporation Tax Act, 1976, had not been enacted and if the enactments in relation to corporation profits tax referred to in the Third Schedule of that Act had not been repealed) a loss incurred before the 6th day of April, 1976, could not be set off under section 25 of the Finance Act, 1964.

(b) A relevant deficiency shall not be set off under clause (a) against income arising in any accounting period against the profits of which (if the Corporation Tax Act, 1976, had not been enacted and if the enactments in relation to corporation profits tax mentioned in the Third Schedule to that Act had not been repealed) a loss incurred before the 6th day of April, 1976, could not be set off under section 25 of the Finance Act, 1964.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

(2) Where for any accounting period an election was made under section 174(3) of the Corporation Tax Act, 1976, all amounts which under section 25 of the Finance Act, 1964, could be deducted from or set off against profits of the company’s trade or business for that accounting period, computed without regard to section 174(3) of the Corporation Tax Acts, 1976, shall be deemed to have been so deducted or set off and shall not be included in the computation of any relevant deficiency for the purposes of this paragraph.

(2) Where for any accounting period an election was made under section 174(3) of the Corporation Tax Act, 1976, all amounts which under section 25 of the Finance Act, 1964, could be deducted from or set off against profits of the company’s trade or business for that accounting period, computed without regard to section 174(3) of the Corporation Tax Acts, 1976, shall be deemed to have been so deducted or set off and shall not be included in the computation of any relevant deficiency for the purposes of this paragraph.

(b) the total of the amounts by which under subsections (1) and (3) of section 181 of the Corporation Tax Act, 1976, losses and allowances in respect of capital expenditure were reduced for the purposes of corporation tax;

(a) the total of the amounts which under section 25 of the Finance Act, 1964, could (on the assumption that for corporation profits tax purposes an accounting period of the company ended on the 5th day of April, 1976, and a new accounting period commenced on the 6th day of April, 1976, and the enactments in relation to corporation profits tax mentioned in the Third Schedule to the Corporation Tax Act, 1976, had not been repealed) have been deducted from or set off against profits of the company’s business in an accounting period commencing on the 6th day of April, 1976, and

(2) Where for any accounting period an election was made under section 174(3) of the Corporation Tax Act, 1976, all amounts which under section 25 of the Finance Act, 1964, could be deducted from or set off against profits of the company’s trade or business for that accounting period, computed without regard to section 174(3) of the Corporation Tax Acts, 1976, shall be deemed to have been so deducted or set off and shall not be included in the computation of any relevant deficiency for the purposes of this paragraph.

(b) Relief shall not be allowed against corporation tax payable for any accounting period against the profits of which (if the Corporation Tax Act, 1976, had not been enacted and if the enactments in relation to corporation profits tax referred to in the Third Schedule of that Act had not been repealed) a loss incurred before the 6th day of April, 1976, could not be set off under section 25 of the Finance Act, 1964.

(b) A relevant deficiency shall not be set off under clause (a) against income arising in any accounting period against the profits of which (if the Corporation Tax Act, 1976, had not been enacted and if the enactments in relation to corporation profits tax mentioned in the Third Schedule to that Act had not been repealed) a loss incurred before the 6th day of April, 1976, could not be set off under section 25 of the Finance Act, 1964.

(a) the total of the amounts which under section 25 of the Finance Act, 1964, could (on the assumption that for corporation profits tax purposes an accounting period of the company ended on the 5th day of April, 1976, and a new accounting period commenced on the 6th day of April, 1976, and the enactments in relation to corporation profits tax mentioned in the Third Schedule to the Corporation Tax Act, 1976, had not been repealed) have been deducted from or set off against profits of the company’s business in an accounting period commencing on the 6th day of April, 1976, and

(2) Where for any accounting period an election was made under section 174(3) of the Corporation Tax Act, 1976, all amounts which under section 25 of the Finance Act, 1964, could be deducted from or set off against profits of the company’s trade or business for that accounting period, computed without regard to section 174(3) of the Corporation Tax Acts, 1976, shall be deemed to have been so deducted or set off and shall not be included in the computation of any relevant deficiency for the purposes of this paragraph.

(b) Relief shall not be allowed against corporation tax payable for any accounting period against the profits of which (if the Corporation Tax Act, 1976, had not been enacted and if the enactments in relation to corporation profits tax referred to in the Third Schedule of that Act had not been repealed) a loss incurred before the 6th day of April, 1976, could not be set off under section 25 of the Finance Act, 1964.

(b) A relevant deficiency shall not be set off under clause (a) against income arising in any accounting period against the profits of which (if the Corporation Tax Act, 1976, had not been enacted and if the enactments in relation to corporation profits tax mentioned in the Third Schedule to that Act had not been repealed) a loss incurred before the 6th day of April, 1976, could not be set off under section 25 of the Finance Act, 1964.

(c) so much of any deficiency or so much of any amount treated as a loss as, under section 62 of the Finance Act, 1974, could not have been carried forward or set against profits or gains for income tax purposes if that tax had continued shall be treated as not being a deficiency or loss for the purposes of this paragraph.

(c) so much of any deficiency or so much of any amount treated as a loss as, under section 62 of the Finance Act, 1974, could not have been carried forward or set against profits or gains for income tax purposes if that tax had continued shall be treated as not being a deficiency or loss for the purposes of this paragraph.

11. Where but for the repeal by this Act of the repealed enactments an allowance or charge would be made to or on a person for any chargeable period under Chapter II of Part XV, or Chapter I of Part XVI, of the Income Tax Act, 1967 (including any such allowance as increased under section 25 of the Finance Act, 1978), by virtue of section 42 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, that allowance or charge shall be made to or on the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

11. Where but for the repeal by this Act of the repealed enactments an allowance or charge would be made to or on a person for any chargeable period under Chapter II of Part XV, or Chapter I of Part XVI, of the Income Tax Act, 1967 (including any such allowance as increased under section 25 of the Finance Act, 1978), by virtue of section 42 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, that allowance or charge shall be made to or on the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

(i) section 23 of the Finance Act, 1981,

(ii) section 23 of the Finance Act, 1981, as applied by virtue of section 24 of that Act or section 22 of the Finance Act, 1985, or

(iii) section 23 of the Finance Act, 1981, as applied by section 21 of the Finance Act, 1985,

(i) section 23 of the Finance Act, 1981,

(ii) section 23 of the Finance Act, 1981, as applied by virtue of section 24 of that Act or section 22 of the Finance Act, 1985, or

(iii) section 23 of the Finance Act, 1981, as applied by section 21 of the Finance Act, 1985,

(ii) section 23 of the Finance Act, 1981, as applied by virtue of section 24 of that Act or section 22 of the Finance Act, 1985, or

(ii) section 23 of the Finance Act, 1981, as applied by virtue of section 24 of that Act or section 22 of the Finance Act, 1985, or

(iii) section 23 of the Finance Act, 1981, as applied by section 21 of the Finance Act, 1985,

(iii) section 23 of the Finance Act, 1981, as applied by section 21 of the Finance Act, 1985,

(ii) section 23 of the Finance Act, 1981, as applied by virtue of section 24 of that Act or section 22 of the Finance Act, 1985, or

(b) in accordance with the provisions of a scheme approved under the Second Schedule to the Finance Act, 1986;

(2) Where the individual exercises the right in accordance with the provisions of the scheme referred to in subparagraph (1)(b) at a time when it is approved under the Second Schedule to the Finance Act, 1986—

(3) (a) This paragraph shall apply notwithstanding that the Second Schedule to the Finance Act, 1986, is not re-enacted by this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

(b) Without prejudice to the generality of clause (a), sections 1052, 1053 and 1054 sections 1052, 1054 and 1077E shall apply for the purposes of that clause as if in Schedule 29 there were included in Column 2 a reference to paragraph 14 of the Second Schedule to the Finance Act, 1986.

11. Where but for the repeal by this Act of the repealed enactments an allowance or charge would be made to or on a person for any chargeable period under Chapter II of Part XV, or Chapter I of Part XVI, of the Income Tax Act, 1967 (including any such allowance as increased under section 25 of the Finance Act, 1978), by virtue of section 42 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, that allowance or charge shall be made to or on the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

12. Where but for the repeal by this Act of the repealed enactments a person would, in the computation of his or her total income for any year of assessment, be entitled to a deduction under section 44 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning of section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, the person shall be entitled to that deduction for that year of assessment under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

13. Where but for the repeal by this Act of the repealed enactments a further deduction on account of rent in respect of any premises would be made to a person under section 45 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning of section 41 of that Act), in the computation of the amount of the profits or gains of the person’s trade or profession, then, notwithstanding that that section as it so applied is not re-enacted by this Act, that further deduction shall be made to the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

14. Where, in computing the amount of a surplus or deficiency in respect of rent from any premises in any area other than the Custom House Docks Area (within the meaning of section 41 of the Finance Act, 1986), a person would, but for the repeal by this Act of the repealed enactments—

in so far as those sections applied to areas other than the Custom House Docks Area (within the meaning of section 41 of the Finance Act, 1986), then, notwithstanding that those sections as they so applied are not re-enacted by this Act, the person shall be entitled to that deduction or be deemed to have received that amount as rent, as the case may be, under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

11. Where but for the repeal by this Act of the repealed enactments an allowance or charge would be made to or on a person for any chargeable period under Chapter II of Part XV, or Chapter I of Part XVI, of the Income Tax Act, 1967 (including any such allowance as increased under section 25 of the Finance Act, 1978), by virtue of section 42 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, that allowance or charge shall be made to or on the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

12. Where but for the repeal by this Act of the repealed enactments a person would, in the computation of his or her total income for any year of assessment, be entitled to a deduction under section 44 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning of section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, the person shall be entitled to that deduction for that year of assessment under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

13. Where but for the repeal by this Act of the repealed enactments a further deduction on account of rent in respect of any premises would be made to a person under section 45 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning of section 41 of that Act), in the computation of the amount of the profits or gains of the person’s trade or profession, then, notwithstanding that that section as it so applied is not re-enacted by this Act, that further deduction shall be made to the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

14. Where, in computing the amount of a surplus or deficiency in respect of rent from any premises in any area other than the Custom House Docks Area (within the meaning of section 41 of the Finance Act, 1986), a person would, but for the repeal by this Act of the repealed enactments—

in so far as those sections applied to areas other than the Custom House Docks Area (within the meaning of section 41 of the Finance Act, 1986), then, notwithstanding that those sections as they so applied are not re-enacted by this Act, the person shall be entitled to that deduction or be deemed to have received that amount as rent, as the case may be, under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

11. Where but for the repeal by this Act of the repealed enactments an allowance or charge would be made to or on a person for any chargeable period under Chapter II of Part XV, or Chapter I of Part XVI, of the Income Tax Act, 1967 (including any such allowance as increased under section 25 of the Finance Act, 1978), by virtue of section 42 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, that allowance or charge shall be made to or on the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

12. Where but for the repeal by this Act of the repealed enactments a person would, in the computation of his or her total income for any year of assessment, be entitled to a deduction under section 44 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning of section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, the person shall be entitled to that deduction for that year of assessment under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

13. Where but for the repeal by this Act of the repealed enactments a further deduction on account of rent in respect of any premises would be made to a person under section 45 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning of section 41 of that Act), in the computation of the amount of the profits or gains of the person’s trade or profession, then, notwithstanding that that section as it so applied is not re-enacted by this Act, that further deduction shall be made to the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

(2) The amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, shall not apply as respects a sum of money paid on or after the 23rd day of January, 1996, and on or before the 31st day of March, 1996, where the sum of money is paid in respect of shares in a qualifying company, and—

(a) to which the amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, do not apply by virtue of subparagraph (2), or

the provisions of section 35 of the Finance Act, 1987, which were in force immediately before the 23rd day of January, 1996, (in this paragraph referred to as “the former provisions”) shall, subject to subparagraph (4), continue to apply to that sum of money.

(2) The amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, shall not apply as respects a sum of money paid on or after the 23rd day of January, 1996, and on or before the 31st day of March, 1996, where the sum of money is paid in respect of shares in a qualifying company, and—

(a) to which the amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, do not apply by virtue of subparagraph (2), or

the provisions of section 35 of the Finance Act, 1987, which were in force immediately before the 23rd day of January, 1996, (in this paragraph referred to as “the former provisions”) shall, subject to subparagraph (4), continue to apply to that sum of money.

(1) Where a person is immediately before the commencement of this Act, entitled to have a deduction made from his or her total income under section 4 of the Finance Act, 1989, he or she shall not cease to be so entitled by reason only of the repeal by this Act of that section, notwithstanding that that section is not re-enacted by this Act, and accordingly this Act shall apply with any modifications necessary to give effect to any such entitlements.

(2) Notwithstanding the repeal by this Act of section 4 of the Finance Act, 1989, relief given under that section, whether before or after the passing of this Act, may be withdrawn in accordance with subsection (4) of that section where the circumstances set out in that subsection apply; and accordingly this Act shall apply with any modifications necessary to give effect to such withdrawal.

(1) Where a person is immediately before the commencement of this Act, entitled to have a deduction made from his or her total income under section 4 of the Finance Act, 1989, he or she shall not cease to be so entitled by reason only of the repeal by this Act of that section, notwithstanding that that section is not re-enacted by this Act, and accordingly this Act shall apply with any modifications necessary to give effect to any such entitlements.

(2) Notwithstanding the repeal by this Act of section 4 of the Finance Act, 1989, relief given under that section, whether before or after the passing of this Act, may be withdrawn in accordance with subsection (4) of that section where the circumstances set out in that subsection apply; and accordingly this Act shall apply with any modifications necessary to give effect to such withdrawal.

Transitional provisions arising from amendments made to the system of taxation of life assurance companies by Finance Act, 1993

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

(b) the Revenue Commissioners are satisfied that the application of the amendments to section 439 of the Income Tax Act, 1967, effected by subsections (1) and (2) of section 13 of the Finance Act, 1995, which subsections are re-enacted in subsections (1) and (2) of section 792, would give rise to hardship,

then, those amendments shall not, to the extent that the Revenue Commissioners consider just, apply before the 6th day of April, 1998 6th day of April, 2000, in respect of a disposition, to which clause (a) of subparagraph (2) applies, by a person (in this paragraph referred to as “the disponer”), in so far as, by virtue or in consequence of such disposition, income is payable in a year of assessment to or for the benefit of an individual to whom clause (b) of subparagraph (2) applies, and accordingly, notwithstanding that section 439 of the Income Tax Act, 1967, as it stood before its amendment by subsections (1) and (2) of section 13 the Finance Act, 1995, is not re-enacted by this Act, this Act shall apply with any modifications necessary to give effect to this paragraph.

(b) the Revenue Commissioners are satisfied that the application of the amendments to section 439 of the Income Tax Act, 1967, effected by subsections (1) and (2) of section 13 of the Finance Act, 1995, which subsections are re-enacted in subsections (1) and (2) of section 792, would give rise to hardship,

then, those amendments shall not, to the extent that the Revenue Commissioners consider just, apply before the 6th day of April, 1998 6th day of April, 2000, in respect of a disposition, to which clause (a) of subparagraph (2) applies, by a person (in this paragraph referred to as “the disponer”), in so far as, by virtue or in consequence of such disposition, income is payable in a year of assessment to or for the benefit of an individual to whom clause (b) of subparagraph (2) applies, and accordingly, notwithstanding that section 439 of the Income Tax Act, 1967, as it stood before its amendment by subsections (1) and (2) of section 13 the Finance Act, 1995, is not re-enacted by this Act, this Act shall apply with any modifications necessary to give effect to this paragraph.

(2) The amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, shall not apply as respects a sum of money paid on or after the 23rd day of January, 1996, and on or before the 31st day of March, 1996, where the sum of money is paid in respect of shares in a qualifying company, and—

(a) to which the amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, do not apply by virtue of subparagraph (2), or

(2) The amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, shall not apply as respects a sum of money paid on or after the 23rd day of January, 1996, and on or before the 31st day of March, 1996, where the sum of money is paid in respect of shares in a qualifying company, and—

(a) to which the amendments effected to section 35 of the Finance Act, 1987, by section 31(1) of the Finance Act, 1996, do not apply by virtue of subparagraph (2), or

11. Where but for the repeal by this Act of the repealed enactments an allowance or charge would be made to or on a person for any chargeable period under Chapter II of Part XV, or Chapter I of Part XVI, of the Income Tax Act, 1967 (including any such allowance as increased under section 25 of the Finance Act, 1978), by virtue of section 42 of the Finance Act, 1986 (in so far as that section applied to areas other than the Custom House Docks Area within the meaning section 41 of that Act), then, notwithstanding that that section as it so applied is not re-enacted by this Act, that allowance or charge shall be made to or on the person under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

(a) such part of a loss, including any amount to be treated as a loss under section 316 of the Income Tax Act, 1967, incurred by the company in a trade before the date on which the company comes within the charge to corporation tax in respect of the trade and which, but for the Corporation Tax Act, 1976, could have been carried forward to the year 1976-77 under section 309 of the Income Tax Act, 1967, and

(a) such part of a loss, including any amount to be treated as a loss under section 316 of the Income Tax Act, 1967, incurred by the company in a trade before the date on which the company comes within the charge to corporation tax in respect of the trade and which, but for the Corporation Tax Act, 1976, could have been carried forward to the year 1976-77 under section 309 of the Income Tax Act, 1967, and

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(b) the Revenue Commissioners are satisfied that the application of the amendments to section 439 of the Income Tax Act, 1967, effected by subsections (1) and (2) of section 13 of the Finance Act, 1995, which subsections are re-enacted in subsections (1) and (2) of section 792, would give rise to hardship,

then, those amendments shall not, to the extent that the Revenue Commissioners consider just, apply before the 6th day of April, 1998 6th day of April, 2000, in respect of a disposition, to which clause (a) of subparagraph (2) applies, by a person (in this paragraph referred to as “the disponer”), in so far as, by virtue or in consequence of such disposition, income is payable in a year of assessment to or for the benefit of an individual to whom clause (b) of subparagraph (2) applies, and accordingly, notwithstanding that section 439 of the Income Tax Act, 1967, as it stood before its amendment by subsections (1) and (2) of section 13 the Finance Act, 1995, is not re-enacted by this Act, this Act shall apply with any modifications necessary to give effect to this paragraph.

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(a) such part of a loss, including any amount to be treated as a loss under section 316 of the Income Tax Act, 1967, incurred by the company in a trade before the date on which the company comes within the charge to corporation tax in respect of the trade and which, but for the Corporation Tax Act, 1976, could have been carried forward to the year 1976-77 under section 309 of the Income Tax Act, 1967, and

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(a) such part of a loss, including any amount to be treated as a loss under section 316 of the Income Tax Act, 1967, incurred by the company in a trade before the date on which the company comes within the charge to corporation tax in respect of the trade and which, but for the Corporation Tax Act, 1976, could have been carried forward to the year 1976-77 under section 309 of the Income Tax Act, 1967, and

(b) the Revenue Commissioners are satisfied that the application of the amendments to section 439 of the Income Tax Act, 1967, effected by subsections (1) and (2) of section 13 of the Finance Act, 1995, which subsections are re-enacted in subsections (1) and (2) of section 792, would give rise to hardship,

then, those amendments shall not, to the extent that the Revenue Commissioners consider just, apply before the 6th day of April, 1998 6th day of April, 2000, in respect of a disposition, to which clause (a) of subparagraph (2) applies, by a person (in this paragraph referred to as “the disponer”), in so far as, by virtue or in consequence of such disposition, income is payable in a year of assessment to or for the benefit of an individual to whom clause (b) of subparagraph (2) applies, and accordingly, notwithstanding that section 439 of the Income Tax Act, 1967, as it stood before its amendment by subsections (1) and (2) of section 13 the Finance Act, 1995, is not re-enacted by this Act, this Act shall apply with any modifications necessary to give effect to this paragraph.

“relevant agreement” means an agreement between a road authority and another person under section 9 of the Local Government (Toll Roads) Act, 1979, by virtue of which that other person incurs relevant expenditure;

“road authority” has the meaning assigned to it by the Local Government (Toll Roads) Act, 1979.

“relevant agreement” means an agreement between a road authority and another person under section 9 of the Local Government (Toll Roads) Act, 1979, by virtue of which that other person incurs relevant expenditure;

(1) Any stock under section 87 of the Local Government Act, 1946, issued on or after the 13th day of July, 1955, shall be deemed to be securities issued under the authority of the Minister for Finance under section 36, and that section shall apply accordingly.

(1) Any stock under section 87 of the Local Government Act, 1946, issued on or after the 13th day of July, 1955, shall be deemed to be securities issued under the authority of the Minister for Finance under section 36, and that section shall apply accordingly.

then, that person shall, on making a claim for the purpose within 6 years after the end of the year of assessment in which the contingency happens, be entitled, on proof of the claim in the manner prescribed by subsections (3) and (4) of section 459 and paragraph 8 of Schedule 28, to have repaid to him or her on account of the income tax which has been paid in respect of the income during the period of accumulation a sum equal to the aggregate amount of relief to which he or she would have been entitled if his or her total income from all sources for each of the several years of that period had been equal to the aggregate yearly income for that year; but in calculating that sum a deduction shall be made in respect of any relief already received.

(b) Without prejudice to the generality of clause (a), sections 1052, 1053 and 1054 sections 1052, 1054 and 1077E shall apply for the purposes of that clause as if in Schedule 29 there were included in Column 2 a reference to paragraph 14 of the Second Schedule to the Finance Act, 1986.

(2) Section 49 shall apply as if in subsection (1) of that section “or paragraph 1 of Schedule 32” were inserted after “or 41”.

(2) Section 49 shall apply as if in subsection (1) of that section “or paragraph 1 of Schedule 32” were inserted after “or 41”.

Relief in respect of losses or deficiencies within Case IV or V of Schedule D

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(a) a company was entitled to relief under section 89 or 310 of the Income Tax Act, 1967, or would have been entitled to relief under section 310 of that Act if section 237(5) of that Act had not been enacted, for the year 1975-76 or an earlier year of assessment in respect of a loss within Case IV of Schedule D or a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances in each case, and

(a) a loss within Case IV of Schedule D, with the addition of any associated capital allowances, shall be relieved under this paragraph only against income of the company chargeable to corporation tax under Case IV of Schedule D,

(a) a loss within Case IV of Schedule D, with the addition of any associated capital allowances, shall be relieved under this paragraph only against income of the company chargeable to corporation tax under Case IV of Schedule D,

(b) a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances, shall be relieved only against income of the company chargeable to corporation tax under Case V of Schedule D, and

(b) a deficiency or an excess of deficiencies within Case V of Schedule D, with the addition of any associated capital allowances, shall be relieved only against income of the company chargeable to corporation tax under Case V of Schedule D, and

(ii) the year of assessment in the basis period for which (if that person’s profits or gains from farming for that year of assessment had been chargeable to tax under Case I of Schedule D) that person incurred the expenditure.

(i) in the case of income tax, for the purposes of Case I or II of Schedule D, be allowed to be deducted as an expense incurred in the year in which the sum is paid, and

(ii) in the case of corporation tax, for the purposes of Case I or II of Schedule D and the provisions of sections 83 and 707(4) relating to expenses of management, be allowed to be deducted as an expense or expense of management incurred in the accounting period in which the sum is paid.

(1) Any stock under section 87 of the Local Government Act, 1946, issued on or after the 13th day of July, 1955, shall be deemed to be securities issued under the authority of the Minister for Finance under section 36, and that section shall apply accordingly.

(2) Section 49 shall apply as if in subsection (1) of that section “or paragraph 1 of Schedule 32” were inserted after “or 41”.

(ii) in the case of corporation tax, for the purposes of Case I or II of Schedule D and the provisions of sections 83 and 707(4) relating to expenses of management, be allowed to be deducted as an expense or expense of management incurred in the accounting period in which the sum is paid.

(a) income tax shall not be chargeable under section 128 in respect of any gain realised by the exercise of the right, and

Meaning of “relevant distributions” for the purposes of section 147 in relation to distributions made before 6th April, 1989

2. Where a payment of income is made before the 6th day of April, 1998, in respect of a scholarship awarded before the 26th day of March, 1997, section 193 shall apply as if—

“relevant corporation tax”, in relation to an accounting period, means the corporation tax (other than an amount which by virtue of sections 239, 241, 440 and 441 is to be treated as corporation tax of an accounting period) which, apart from this paragraph, paragraph 18 and section 448, would be chargeable for the accounting period exclusive of the corporation tax chargeable on the part of the company’s profits attributable to chargeable gains for that period, and that part shall be taken to be the amount brought into the company’s profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description.

“relevant corporation tax”, in relation to an accounting period, means the corporation tax (other than an amount which by virtue of sections 239, 241, 440 and 441 is to be treated as corporation tax of an accounting period) which, apart from this paragraph, paragraph 18 and section 448, would be chargeable for the accounting period exclusive of the corporation tax chargeable on the part of the company’s profits attributable to chargeable gains for that period, and that part shall be taken to be the amount brought into the company’s profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description.

(2) The provisions of the Tax Acts (other than section 273) relating to the making of allowances or charges in respect of capital expenditure on the construction of an industrial building or structure shall apply to relevant expenditure as if it were expenditure incurred on the construction of a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a).

(2) The provisions of the Tax Acts (other than section 273) relating to the making of allowances or charges in respect of capital expenditure on the construction of an industrial building or structure shall apply to relevant expenditure as if it were expenditure incurred on the construction of a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a).

(2) The provisions of the Tax Acts (other than section 273) relating to the making of allowances or charges in respect of capital expenditure on the construction of an industrial building or structure shall apply to relevant expenditure as if it were expenditure incurred on the construction of a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a).

“chargeable period” and “chargeable period or its basis period” have the same meanings as in section 321(2);

“relevant corporation tax”, in relation to an accounting period, means the corporation tax (other than an amount which by virtue of sections 239, 241, 440 and 441 is to be treated as corporation tax of an accounting period) which, apart from this paragraph, paragraph 18 and section 448, would be chargeable for the accounting period exclusive of the corporation tax chargeable on the part of the company’s profits attributable to chargeable gains for that period, and that part shall be taken to be the amount brought into the company’s profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description.

“relevant corporation tax”, in relation to an accounting period, means the corporation tax (other than an amount which by virtue of sections 239, 241, 440 and 441 is to be treated as corporation tax of an accounting period) which, apart from this paragraph, paragraph 18 and section 448, would be chargeable for the accounting period exclusive of the corporation tax chargeable on the part of the company’s profits attributable to chargeable gains for that period, and that part shall be taken to be the amount brought into the company’s profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description.

“relevant corporation tax”, in relation to an accounting period, means the corporation tax (other than an amount which by virtue of sections 239, 241, 440 and 441 is to be treated as corporation tax of an accounting period) which, apart from this paragraph, paragraph 18 and section 448, would be chargeable for the accounting period exclusive of the corporation tax chargeable on the part of the company’s profits attributable to chargeable gains for that period, and that part shall be taken to be the amount brought into the company’s profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description.

(ii) where the corporation tax payable by the company for an accounting period is reduced by virtue of a claim under section 448(2), the relief to be given under this paragraph for the accounting period shall be reduced in the same proportion as the corporation tax payable by the company for the accounting period in so far as it is attributable to the income from the trade is so reduced; and the corporation tax attributable to the income from the trade shall be an amount equal to the same proportion of the relevant corporation tax for the accounting period as the income from the trade for the accounting period bears to the total income brought into charge to corporation tax.

A is the amount of corporation tax which, apart from paragraph 16, this paragraph and section 448, is chargeable for the accounting period,

C is the amount of corporation tax which, apart from paragraph 16, this paragraph and section 448, would be chargeable for the accounting period if the amount of the company’s income for the accounting period were reduced by the appropriate amount, and

A is the amount of corporation tax which, apart from this paragraph and section 448, is chargeable for the accounting period, and

B is the amount of corporation tax which, apart from this paragraph and section 448, would be chargeable for the accounting period if the amount of the company’s income for the accounting period were reduced by the appropriate amount.

(c) Notwithstanding clause (b) Notwithstanding clauses (b) and (bb), where the corporation tax payable by a company for an accounting period is reduced by virtue of a claim under section 448(2), the amount of relief to be allowed under the preceding provisions of this paragraph shall be reduced in the same proportion which the amount by which the corporation tax referable to the income from the sale of goods (within the meaning of section 448) for that accounting period is so reduced bears to the relevant corporation tax, and for the purposes of this clause “relevant corporation tax” has the same meaning as in paragraph 16.

(c) Notwithstanding clause (b) Notwithstanding clauses (b) and (bb), where the corporation tax payable by a company for an accounting period is reduced by virtue of a claim under section 448(2), the amount of relief to be allowed under the preceding provisions of this paragraph shall be reduced in the same proportion which the amount by which the corporation tax referable to the income from the sale of goods (within the meaning of section 448) for that accounting period is so reduced bears to the relevant corporation tax, and for the purposes of this clause “relevant corporation tax” has the same meaning as in paragraph 16.

then, that person shall, on making a claim for the purpose within 6 years after the end of the year of assessment in which the contingency happens, be entitled, on proof of the claim in the manner prescribed by subsections (3) and (4) of section 459 and paragraph 8 of Schedule 28, to have repaid to him or her on account of the income tax which has been paid in respect of the income during the period of accumulation a sum equal to the aggregate amount of relief to which he or she would have been entitled if his or her total income from all sources for each of the several years of that period had been equal to the aggregate yearly income for that year; but in calculating that sum a deduction shall be made in respect of any relief already received.

(1) Where an allowable investor company has in the period of 12 months ending on the 22nd day of January, 1997, made a relevant investment, the reference in section 481(4) to £8,000,000 €10,157,904.63 shall, in respect of that period, be construed as a reference to £6,000,000 €7,618,428.47 or, where the company has in that period paid a sum of money to which subparagraph (2) applies, as a reference to £6,000,000 €7,618,428.47 less the amount or, if there are more amounts than one, the aggregate of such amounts of such sums of money.

(6) As respects a relevant investment made before the 26th day of March, 1997, section 481 shall apply as if in subsection (4)(b)(i) of that section the reference to £3,000,000 €3,809,214.24 were a reference to £2,000,000 €2,539,476.16.

(7) As respects the 12 months period ending on the 22nd day of January, 1996, section 481 shall apply as if in subsection (4)(b)(ii) of that section the reference to £3,000,000 €3,809,214.24 were a reference to £2,000,000 €2,539,476.16.

(8) In relation to a film in respect of which the Minister has received an application before the 26th day of March, 1997, to enable the Minister to consider whether a certificate should be given under subsection (2) of section 481, that subsection shall apply as if paragraph (c)(ii)(II) of that subsection were deleted.

(b) if but for this clause section 547 would apply, that section shall not apply in calculating the consideration for the acquisition of the shares by the individual or for any corresponding disposal of them to the individual.

Farming: application of section 658 in relation to expenditure incurred before 27th January, 1994

(1) Section 658 shall apply—

(b) Where on or after the 6th day of April, 1977, and before the 1st day of April, 1989, a person to whom section 658 applies incurs capital expenditure to which this subparagraph applies, being expenditure in respect of which the person is entitled to claim an allowance under that section, the allowance to be granted for the chargeable period related to the expenditure or any subsequent chargeable period shall be increased by such amount as is specified by the person to whom the allowance is to be made in making the person’s claim for the allowance, and in relation to a case in which this subsection has applied, any reference in the Tax Acts to a farm buildings allowance made under section 658 shall be construed as a reference to that allowance as increased under this subparagraph.

(b) Where on or after the 6th day of April, 1977, and before the 1st day of April, 1989, a person to whom section 658 applies incurs capital expenditure to which this subparagraph applies, being expenditure in respect of which the person is entitled to claim an allowance under that section, the allowance to be granted for the chargeable period related to the expenditure or any subsequent chargeable period shall be increased by such amount as is specified by the person to whom the allowance is to be made in making the person’s claim for the allowance, and in relation to a case in which this subsection has applied, any reference in the Tax Acts to a farm buildings allowance made under section 658 shall be construed as a reference to that allowance as increased under this subparagraph.

(2) A reference in Chapter 1 of Part 24 to the Minister for the Marine and Natural Resources shall—

(2) A reference in Chapter 1 of Part 24 to the Minister for the Marine and Natural Resources shall—

(3) A reference in Chapter 2 of Part 24 to the Minister for the Marine and Natural Resources shall—

(3) A reference in Chapter 2 of Part 24 to the Minister for the Marine and Natural Resources shall—

(ii) in the case of corporation tax, for the purposes of Case I or II of Schedule D and the provisions of sections 83 and 707(4) relating to expenses of management, be allowed to be deducted as an expense or expense of management incurred in the accounting period in which the sum is paid.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713.

Application of section 774(6) in certain circumstances

section 774 shall apply as if the following subsection were substituted for subsection (6) of that section:

Settlements: application of section 792 for the year of assessment 1997-98 in relation to certain dispositions to certain individuals residing with, and sharing normal household expenses with, the disponer

(b) the Revenue Commissioners are satisfied that the application of the amendments to section 439 of the Income Tax Act, 1967, effected by subsections (1) and (2) of section 13 of the Finance Act, 1995, which subsections are re-enacted in subsections (1) and (2) of section 792, would give rise to hardship,

(b) Without prejudice to the generality of clause (a), sections 1052, 1053 and 1054 sections 1052, 1054 and 1077E shall apply for the purposes of that clause as if in Schedule 29 there were included in Column 2 a reference to paragraph 14 of the Second Schedule to the Finance Act, 1986.

(b) Without prejudice to the generality of clause (a), sections 1052, 1053 and 1054 sections 1052, 1054 and 1077E shall apply for the purposes of that clause as if in Schedule 29 there were included in Column 2 a reference to paragraph 14 of the Second Schedule to the Finance Act, 1986.

(b) Without prejudice to the generality of clause (a), sections 1052, 1053 and 1054 sections 1052, 1054 and 1077E shall apply for the purposes of that clause as if in Schedule 29 there were included in Column 2 a reference to paragraph 14 of the Second Schedule to the Finance Act, 1986.

Section 1101.