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“appropriate tax” has the meaning assigned to it by section 256 of the Taxes Consolidation Act 1997;

(c) shall, while it is retained by them, be kept as cash, or be kept in an account with a relevant deposit taker (within the meaning of section 256).

(I) a company within the charge to corporation tax in respect of interest for the purposes of paragraph (f) of the definition of “relevant deposit” in section 256, or

(1A) For the purposes of this section, “bank” has the meaning assigned to it by section 845A and includes building society within the meaning of section 256(1).

“bank” includes building society within the meaning of section 256(1);

(B) the wholesale debt instrument shall not be treated as a relevant deposit (within the meaning of section 256) for the purposes of Chapter 4 of this Part,

(B) the wholesale debt instrument shall not be treated as a relevant deposit (within the meaning of section 256) for the purposes of Chapter 4 of this Part.

(1) In this section “specified interest” means interest arising to a person in respect of a deposit in relation to which a declaration has been made by the person under subsection (1A) or (1B) of section 256 subsection (1A), (1B), or (1C) of section 256 and which is not included in relevant interest for the purposes of paragraph (c)(i)(II) of section 261.

(2) Notwithstanding section 15, where the taxable income of that person includes specified interest, the part of taxable income, equal to that specified interest, shall be chargeable to tax at the rate at which tax would have been deducted, from that interest, if a declaration under subsection (1A) or (1B) of section 256 subsection (1A), (1B), or (1C) of section 256 had not been made.

(1) The declaration referred to in paragraph (g)(ii) of the definition of “relevant deposit” in section 256(1) shall be a declaration in writing to a relevant deposit taker which—

(1) The declaration referred to in section 256(1A) is a declaration in writing to a relevant deposit taker which—

(e) contains an undertaking by the declarer that if the individual or, as the case may be, any of the individuals mentioned in paragraph (d) no longer satisfies the conditions set out in paragraph (a) of section 256(1A) the declarer will notify the relevant deposit taker accordingly, and

The declaration referred to in section 256(1B) is a declaration in writing to the Revenue Commissioners which—

(e) contains an undertaking by the declarer that if the person or, as the case may be, any of the persons mentioned in paragraph (d) no longer satisfies the conditions set out in paragraph (a) of section 256(1B) the declarer will notify the Revenue Commissioners accordingly, and

(1) The notification referred to in section 256(1B) is a notification—

The declaration referred to in section 256(1C) is a declaration in writing to the Revenue Commissioners which—

(1) The notification referred to in section 256(1C) is a notification—

(1) The following are the conditions referred to in paragraph (a) of the definition of “special savings account” in section 256(1):

(2) The declaration referred to in paragraph (b) of the definition of “special savings account” in section 256(1) shall be a declaration in writing to a relevant deposit taker which—

(1) The following are the conditions referred to in subparagraph (i) of the definition of “special term account” in section 256(1):

(2) The declaration referred to in subparagraph (ii) of the definition of “special term account” in section 256(1) shall be a declaration in writing to a relevant deposit taker which—

Where a return is required to be made by a relevant deposit taker under section 891 in respect of interest on a deposit which is a deposit of a kind referred to in paragraph (f) of the definition of “relevant deposit” in section 256, that return shall, in addition to the matters which shall be included on the return by virtue of section 891, include the tax reference number (within the meaning of section 885) of the person beneficially entitled to the interest and where, in the case of a pension scheme, there is no such number, with the number assigned by the Revenue Commissioners to the employer to whom the pension scheme relates.

Where a return is required to be made by a relevant deposit taker under section 891 in respect of interest on a deposit which is a deposit of a kind referred to in subsection (1A) or (1B) of section 256, then that return shall, in addition to the matters which shall be included on the return by virtue of section 891, include—

Where a return is required to be made by a relevant deposit taker under section 891 in respect of interest on a deposit which is a deposit of a kind referred to in paragraph (h) of the definition of “relevant deposit” in section 256, that return shall, in addition to the matters which shall be included on that return by virtue of section 891, include the reference number assigned to that person by the Revenue Commissioners in recognition of that person’s entitlement to exemption from tax under section 207 and known as the charity (CHY) number.

“appropriate tax” has the same meaning as in section 256(1);

“relevant deposit” has the same meaning as in section 256(1);

“relevant deposit taker” has the same meaning as in section 256(1);

“relevant interest” has the same meaning as in section 256(1);

“foreign deposit interest” means interest arising in a foreign territory which would be interest payable in respect of a relevant deposit within the meaning of section 256(1) if—

(a) paragraphs (c), (d) and (g) of the definition of ‘relevant deposit’ in section 256(1) were deleted, and

(b) there were included in the definition of “relevant deposit taker” in section 256(1), bodies—

“specified interest” means interest arising in a Member State of the European Communities other than the State which would be interest payable in respect of a relevant deposit within the meaning of section 256(1) if—

(a) in the definition of “relevant deposit” in section 256(1)—

(b) there were included in the definition of “relevant deposit taker” in section 256(1) bodies established in accordance with the law of any Member State of the European Communities other than the State which corresponds to—

(i)specified interest, the part of taxable income, equal to that specified interest, shall be chargeable to tax at the rate specified in the definition of “appropriate tax” in section 256(1), or

(ii)foreign deposit interest, so much of the part of taxable income, equal to that foreign deposit interest, as would otherwise be chargeable to tax at the standard rate, shall instead be chargeable to tax at the rate specified in the definition of “appropriate tax” in section 256(1).

“relevant deposit”, “relevant deposit taker” and “relevant interest” have, respectively, the meanings assigned to them by section 256;

(1) Nothing in this Chapter shall prevent an individual referred to in paragraph (b) of section 267(1) who is entitled to a repayment of the whole or any part of the appropriate tax (within the meaning of section 256) by virtue of subsection (3) of section 267 from obtaining any such repayment in accordance with that subsection.

(b) a building society within the meaning of section 256,

(3) Any terminal bonus or interest paid by a qualifying savings institution under a certified contractual savings scheme shall not, where the qualifying savings institution is a relevant deposit taker within the meaning of section 256, be relevant interest for the purposes of that section and accordingly shall not be subject to deduction of appropriate tax under section 257.

(a) which provides for periodical contributions to be made by individuals for a specified period to a qualifying savings institution where the deposit represented by such contributions would, but for subsection (3), constitute a relevant deposit within the meaning of section 256 if the qualifying savings institution were a relevant deposit taker within the meaning of that section,

“building society” has the same meaning as in section 256;

(ii) a deposit (within the meaning of section 256(1)), which is an asset of the unit trust, shall not be a relevant deposit (within the meaning of that section) for the purposes of Chapter 4 of Part 8, for that year of assessment.

(ii) a deposit (within the meaning of section 256(1)), which is an asset of the unit trust, shall not be a relevant deposit (within the meaning of that section) for the purposes of Chapter 4 of Part 8, for that year of assessment.

(b) a building society within the meaning of section 256,

(6) Notwithstanding Chapter 4 of Part 8, that Chapter shall apply to a deposit (within the meaning of that Chapter) where the deposit consists of money held by a qualifying fund manager in that capacity as if such a deposit were not a relevant deposit (within the meaning of that Chapter).

(4) For the purposes of sections 172A(1), 256(1) and 739B(1), the reference to “an exempt approved scheme within the meaning of section 774” in the definition of “pension scheme” in those sections shall be deemed to include a reference to a scheme referred to in subsection (2).

(b) For the purposes of this section, Chapter 4 of Part 8 shall be construed as if—

(3)Chapter 4 of Part 8 (other than section 259) shall, subject to this section and with any other necessary modifications, apply to special portfolio investment accounts as it applies to special savings accounts ; but that Chapter shall so apply as if, in relation to relevant interest payable in respect of a relevant deposit or relevant deposits held in a special savings account, the rate of appropriate tax were 10 per cent , and in particular the rate of appropriate tax specified in section 256(1) in relation to relevant interest payable in respect of a relevant deposit or relevant deposits held in a special savings account shall apply to special portfolio investment accounts .

(3)Chapter 4 of Part 8 (other than section 259) shall, subject to this section and with any other necessary modifications, apply to special portfolio investment accounts as it applies to special savings accounts ; but that Chapter shall so apply as if, in relation to relevant interest payable in respect of a relevant deposit or relevant deposits held in a special savings account, the rate of appropriate tax were 10 per cent , and in particular the rate of appropriate tax specified in section 256(1) in relation to relevant interest payable in respect of a relevant deposit or relevant deposits held in a special savings account shall apply to special portfolio investment accounts .

(a) special savings accounts within the meaning of section 256(1) (such an account being referred to subsequently in this section as a “special savings account”);

(a)paragraph (b) of the definition of “special savings account” in section 256(1),

(a) an account into which a deposit (within the meaning of section 256(1)) is made, or

(b) a building society within the meaning of section 256,

(3) A deposit (within the meaning of section 256(1)) made to a deposit account which is a qualifying asset, shall not be a relevant deposit (within the meaning of that section) for the purposes of Chapter 4 of Part 8.

(b) This section shall not apply in relation to any interest paid or credited by a credit union in respect of money received or retained by it, other than interest paid or credited by it in respect of a deposit to which subsection (1A) or (1B) of section 256 refers.

“building society” and “credit union” have the same meanings, respectively, as in section 256;

“amount on account of appropriate tax”, “appropriate tax”, “deposit”, “interest”, “relevant deposit taker”, “relevant interest” and “return” have, respectively, the meaning assigned to them by section 256(1);

(2) An authorised officer, having regard to Chapter 4 of Part 8, may at all reasonable times enter any premises or place of business of a relevant deposit taker for the purposes of auditing for a year of assessment—

(II) the number referred to in paragraph (f)(ii) or (h)(ii) of the definition of “relevant deposit” in section 256, or

“appropriate tax” and “relevant deposit taker” have, respectively, the meanings assigned to them by section 256(1);

“deposit” and “interest” have, respectively, the meaning assigned to them by section 256(1);