SCHEDULE 2C

Irish Real Estate Funds: Declarations

Sections 739B, 739K and 739U

Interpretation

1. In this Schedule—

“appropriate person”, in relation to a pension scheme, means—

(a)in the case of an exempt approved scheme (within the meaning of section 774), the administrator (within the meaning of section 770) of the scheme,

(b)in the case of a retirement annuity contract to which section 784 or 785 applies, the person lawfully carrying on in the State the business of granting annuities on human life with whom the contract is made, and

(c)in the case of a trust scheme to which section 784 or 785 applies, the trustees of the trust scheme;

“IREF declaration”, in relation to a person means the declaration that that person would be required to make under section 739K and Schedule 2C.

Declaration of pension scheme

2. The declaration referred to in section 739K, in respect of a pension scheme referred to in paragraph (a) or (f) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a) is made by the person (in this paragraph referred to as the “declarer”) entitled to the units in respect of which the declaration is made,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)declares that, at the time when the declaration is made, the person entitled to the units is a pension scheme,

(e)contains the name, address and TIN of the pension scheme,

(f)contains a certificate by the appropriate person in relation to the pension scheme that, to the best of that person's knowledge and belief, the declaration made in accordance with subparagraph (d) and the information furnished in accordance with subparagraph (e) are true and correct,

(g)contains a certificate by the declarer stating whether or not the unit holder is a specified person after the application of section 739M,

(h)attaches, where the scheme is one to which paragraph (f) of the definition of “specified person” applies, supporting documentation evidencing equivalence,

(i)contains an undertaking by the declarer that if the scheme becomes a specified person, the declarer will notify the IREF accordingly, and

(j) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of PRSA Administrator

3. The declaration referred to in section 739K, in respect of a PRSA referred to in paragraph (a) or (f) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a)is made by a PRSA administrator (in this paragraph referred to as the “declarer”) in respect of units which are assets in a PRSA,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)declares that, at the time when the declaration is made, the units in respect of which the declaration is made—

(i)are assets of a PRSA, and

(ii)are managed by the declarer for the individual who is beneficially entitled to the units,

(e)contains the name, address and TIN of the individual referred to in subparagraph (d),

(f)contains an undertaking by the declarer that if the units cease to be assets of the PRSA, including a case where the units are transferred to another PRSA, the declarer will notify the IREF accordingly,

(g)contains a certificate by the declarer stating whether or not the unit holder is a specified person after the application of section 739M,

(h)attaches, where the PRSA is one to which paragraph (f) of the definition of “specified person” applies, supporting documentation evidencing equivalence,

(i)contains an undertaking by the declarer that if the PRSA becomes a specified person, the declarer will notify the IREF accordingly, and

(j) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of investment undertaking

4. The declaration referred to in section 739K, in respect of an investment undertaking referred to in paragraph (b) or (f) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a)is made by the person (in this paragraph referred to as the “declarer”) entitled to the units in respect of which the declaration is made,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)declares that, at the time the declaration is made, the person entitled to the units is an investment undertaking,

(e)contains the name, address and TIN of the investment undertaking,

(f)contains a certificate by the declarer stating whether or not the unit holder is a specified person after the application of section 739M,

(g)attaches, where the undertaking is one to which paragraph (f) of the definition of “specified person” applies, supporting documentation evidencing equivalence,

(h)contains an undertaking by the declarer that if the investment undertaking becomes a specified person, the declarer will notify the IREF accordingly, and

(i)contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of company carrying on life business

5. The declaration referred to in section 739K, in respect of a life assurance company referred to in paragraph (c) or (f) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a)is made by the person (in this paragraph referred to as the “declarer”) entitled to the units in respect of which the declaration is made,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)declares that, at the time when the declaration is made, the person entitled to the units is a company carrying on life business within the meaning of Part 26,

(e)contains the name, address and TIN of the company,

(f)contains a certificate by the declarer stating whether or not the unit holder is a specified person after the application of section 739M,

(g)attaches, where the company is one to which paragraph (f) of the definition of “specified person” applies, supporting documentation evidencing equivalence,

(h)contains an undertaking by the declarer that if the company becomes a specified person, the declarer will notify the IREF accordingly, and

(i)contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of Charity

6. The declaration referred to in section 739K, in respect of a charity referred to in paragraph (d) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a)is made by the person (in this paragraph referred to as the “declarer”) entitled to the units in respect of which the undertaking is made,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)declares that, at the time when the declaration is made, the person entitled to the units is a person who—

(i) is exempt from income tax under schedule D by virtue of section 207(1)(b), or

(ii) is exempt from corporation tax by virtue of section 207(1)(b) as it applies for the purposes of corporation tax under section 76(6),

(e)contains the name, address and TIN of that person,

(f)contains a statement that at the time when the declaration is made the units in respect of which the declaration is made are held for charitable purposes only and—

(i)form part of the assets of a body of persons or trust treated by the Revenue Commissioners as a body or trust established for charitable purposes only, or

(ii)are, according to the rules or regulations established by statute, charter, decree, deed of trust or will, held for charitable purposes only and are so treated by the Revenue Commissioners,

(g)contains an undertaking by the declarer that if the person mentioned in subparagraph (d) ceases to be a person referred to in subparagraph (d), the declarer will notify the IREF accordingly, and

(h)contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of Credit Unions

7. The declaration referred to in section 739K, in respect of a credit union referred to in paragraph (e) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a)is made by the person (in this paragraph referred to as the “declarer”) who is entitled to the units in respect of which the declaration is made,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)contains the name, address and TIN of the declarer,

(e)declares that at the time when the declaration is made the person entitled to the units is a credit union, and

(f)contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of qualifying company

8. The declaration referred to in section 739K, in respect of a qualifying company referred to in paragraph (g) of the definition of “specified person”, is a declaration in writing to the IREF which—

(a)is made by the person (in this paragraph referred to as the “declarer”) who is entitled to the units in respect of which the declaration is made,

(b)is signed by the declarer,

(c)is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d)contains the name, address and TIN of the declarer,

(e)declares that at the time when the declaration is made the person entitled to the units is a qualifying company, and

(f)contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

^[2]>

Declaration of qualifying intermediaries regarding Approved Retirement Funds or Approved Minimum Retirement Funds

9. The declaration referred to in section 739K, in respect of an Approved Retirement Fund or an Approved Minimum Retirement Fund referred to in paragraph (a) or (f) of the definition of ‘specified person’ in that section, is a declaration in writing to the IREF which—

(a) is made by a qualifying fund manager (in this paragraph referred to as the ‘declarer’),

(b) is signed by the declarer,

(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d) declares that, at the time of making the declaration, the units in respect of which the declaration is made—

(i) are assets of an Approved Retirement Fund or an Approved Minimum Retirement Fund, and

(ii) are managed by the declarer for the person who is beneficially entitled to the units,

(e) contains the name, address and TIN of the person referred to in subparagraph (d)(ii),

(f) contains an undertaking by the declarer that if the units cease to be assets of the Approved Retirement Fund or an Approved Minimum Retirement Fund, including a case where the units are transferred to another Approved Retirement Fund or an Approved Minimum Retirement Fund, the declarer will notify the IREF in writing accordingly,

(g) contains a certificate by the declarer stating whether or not the unit holder is a specified person after the application of section 739M,

(h) provides, where the Approved Retirement Fund or an Approved Minimum Retirement Fund is one to which paragraph (f) of the definition of ‘specified person’ applies, supporting documentation evidencing equivalence,

(i) contains an undertaking by the declarer that if the Approved Retirement Fund or an Approved Minimum Retirement Fund becomes a specified person, the declarer will notify the IREF in writing accordingly, and

(j) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of PRSA administrators regarding PRSAs and vested PRSAs

10. The declaration referred to in section 739K, in respect of a PRSA or a vested PRSA referred to in paragraph (a) or (f) of the definition of “specified person” in that section, is a declaration in writing to the IREF which—

(a) is made by a PRSA administrator (in this paragraph referred to as the ‘declarer’),

(b) is signed by the declarer,

(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d) declares that, at the time of making the declaration, the units in respect of which the declaration is made—

(i) are assets of a PRSA or a vested PRSA, and

(ii) are managed by the declarer for the person who is beneficially entitled to the units,

(e) contains the name, address and TIN of the person referred to in subparagraph (d)(ii),

(f) contains an undertaking by the declarer that if the units cease to be assets of the PRSA or the vested PRSA, including a case where the units are transferred to another PRSA or vested PRSA, the declarer will notify the IREF in writing accordingly,

(g) contains a certificate by the declarer stating whether or not the unit holder is a specified person after the application of section 739M,

(h) provides, where the PRSA or vested PRSA is one to which paragraph (f) of the definition of ‘specified person’ applies, supporting documentation evidencing equivalence,

(i) contains an undertaking by the declarer that if the PRSA or vested PRSA becomes a specified person, the declarer will notify the IREF in writing accordingly, and

(j) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

Declaration of qualifying intermediaries regarding certain specified persons in section 739K(1)

11. The declaration referred to in section 739K, in respect of a qualifying intermediary, is a declaration in writing to the IREF which—

(a) is made by a qualifying intermediary (in this paragraph referred to as the ‘declarer’),

(b) is signed by the declarer,

(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,

(d) contains the name and address of the declarer,

(e) declares that, at the time of making the declaration, the unit holder in respect of which the declaration is made—

(i) is a scheme to which paragraph (a) or (f) of the definition of “specified person” applies,

(ii) is a charity to which paragraph (d) of the definition of “specified person” applies, or

(iii) is a credit union,

(f) contains an undertaking by the declarer that where the declarer becomes aware at any time that the declaration made in accordance with subparagraph (e) is no longer correct, the declarer will notify the IREF in writing accordingly, and

(g) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1B of Part 27.

^<[2]