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(a) a person who is a holder of a licence granted under section 9 or an authorization granted under section 9A of the Central Bank Act 1971, or

(a) a person who is a holder of a licence granted under section 9 or an authorization granted under section 9A of the Central Bank Act 1971, or

(b) a person who holds a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9;

845A Non-application of section 130 in the case of certain interest paid by banks.

(a) is a distribution by virtue only of section 130(2)(d)(iv),

(b) is payable by a bank carrying on a bona fide banking business in the State and would but for section 130(2)(d)(iv) be deductible as a trading expense in computing the amount of the bank’s income from its banking business, and

(3) Where a bank proves that subsection (2) applies to any interest payable by it for an accounting period and elects to have that interest treated as not being a distribution for the purposes of section 130(2)(d)(iv), then, section 130(2)(d)(iv) shall not apply to that interest.

(3) Where a bank proves that subsection (2) applies to any interest payable by it for an accounting period and elects to have that interest treated as not being a distribution for the purposes of section 130(2)(d)(iv), then, section 130(2)(d)(iv) shall not apply to that interest.