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(2) For the purpose of subsection (1), Pay Related Social Insurance includes Pay Related Social Insurance Contributions payable under the Social Welfare Acts, Health Contributions payable under the Health Contributions Act 1979, and levies payable under the National Training Fund Act 2000.

(2) For the purpose of subsection (1), Pay Related Social Insurance includes Pay Related Social Insurance Contributions payable under the Social Welfare Acts, Health Contributions payable under the Health Contributions Act 1979, and levies payable under the National Training Fund Act 2000.

766B Limitation of tax credits to be paid under section 766 or 766A.

(3) Where in respect of expenditure in an accounting period a company makes a claim under section 766(4B) or 766A(4B), then the aggregate amount payable by the Revenue Commissioners to that company under those sections shall not exceed the greater of—

(a) the aggregate of the corporation tax paid by the company in respect of accounting periods ending in the 10 years immediately preceding the time specified in subsection (4A)(b) of section 766, in relation to the accounting period in which the expenditure was incurred, as reduced by any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure in a previous accounting period, or

(a) the aggregate of the corporation tax paid by the company in respect of accounting periods ending in the 10 years immediately preceding the time specified in subsection (4A)(b) of section 766, in relation to the accounting period in which the expenditure was incurred, as reduced by any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure in a previous accounting period, or

(i) the amount by which the aggregate of any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure incurred in a previous accounting period, exceeds the payroll liabilities in respect of the period—

766B Limitation of tax credits to be paid under section 766 or 766A.

(3) Where in respect of expenditure in an accounting period a company makes a claim under section 766(4B) or 766A(4B), then the aggregate amount payable by the Revenue Commissioners to that company under those sections shall not exceed the greater of—

(a) the aggregate of the corporation tax paid by the company in respect of accounting periods ending in the 10 years immediately preceding the time specified in subsection (4A)(b) of section 766, in relation to the accounting period in which the expenditure was incurred, as reduced by any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure in a previous accounting period, or

(i) the amount by which the aggregate of any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure incurred in a previous accounting period, exceeds the payroll liabilities in respect of the period—

(a) the amount of income tax which the company is required, by or under Chapter 4 of Part 42, to remit to the Collector-General for the relevant payroll period in respect of emoluments, as defined in section 983, paid to, or on account of, all employees and directors,