817Q Regulations (Chapter 3)

Summary

This section provides for the making of regulations by the Revenue Commissioners, with the consent of the Minister for Finance, in relation to various aspects of Chapter 3. These include specifying the period of time within which a disclosure has to be made, the information to be provided and the manner in which it is to be provided, the classes of transaction that are to be considered transactions of a “specified description” and the circumstances in which a person is not to be treated as a promoter. These regulations are the Mandatory Disclosure of Certain Transactions Regulations 2011 (S.I. No. 7 of 2011) and the Mandatory Disclosure of Certain Transactions (Amendment) Regulations 2014 (S.I. No. of 2014).

Details

(1) Revenue may, with the consent of the Minister for Finance, make regulations in relation to various aspects of Chapter 3 including –

• Specifying the circumstances in which a person is not to be considered a promoter so as to narrow the very broad definition of promoter contained in section 817D(1).
• Specifying the manner and form of delivery of information under Chapter 3.
• Specifying transactions which are not disclosable transactions.

(3) Every regulation made under this section must be laid before the Dáil and such regulations may be annulled by resolution of the Dáil.

Relevant Date: Finance Act 2019