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Section 489 Section 502

(a) relief as provided under this Part as it operates by virtue of section 502 or, where the context admits, as it operates by virtue of section 503 or, as appropriate, section 507, or

(1) Notwithstanding section 502, a specified individual who makes a relevant investment in a qualifying company, the activities of which constitute a qualifying new venture, shall be entitled, subject to subsections (2) and (3), to relief in respect of that relevant investment, which shall be given as a deduction from his or her total income for the year of assessment in which the shares are issued.

(5) Where a specified individual claims relief under this section, no relief shall be granted to that individual under section 502 in respect of the same qualifying company.

(b) has insufficient total income against which to offset the deductions available under section 502 or section 507, as the case may be,

(b) only thereafter, in respect of any other amount for which relief is to be given in that year of assessment with relief under section 502(2) (b) given in priority to relief under section 502(2)(a).

(b) only thereafter, in respect of any other amount for which relief is to be given in that year of assessment with relief under section 502(2) (b) given in priority to relief under section 502(2)(a).

(vi) the amount of the investment which qualifies for relief under section 502(2)(a), after any reduction required by section 497 or section 508R, and

(1) A qualifying company shall issue to a qualifying investor, or managers of a designated fund as the case may be, a statement of qualification (second stage relief) in respect of a qualifying investment that qualifies for relief under section 502(2)(b).

(v) confirmation that conditions for relief under section 502(2)(b) have been satisfied,

(vi) the amount of the investment which qualifies for relief under section 502(2)(b), after any reduction required by section 497 or section 508R, and

(a) until the relevant period has ended and it has satisfied the condition set out in section 502(4), or

(1)(a) Relief under section 502 shall be given, and section 498(1) shall not apply, in respect of an amount subscribed as nominee for an individual by a person or persons having the management of an investment fund designated by the Revenue Commissioners for the purposes of this Chapter (in this Part referred to as the ‘managers of a designated fund’) where the amount so subscribed forms part of the fund.

then the individual shall be entitled to relief, under section 502(2)(a) or 502(2A), as a deduction from his or her total income for the year of assessment in which the amount was subscribed to the designated fund.

then the individual shall be entitled to relief, under section 502(2)(a) or 502(2A), as a deduction from his or her total income for the year of assessment in which the amount was subscribed to the designated fund.