197 Bonus or interest paid under instalment savings schemes.

[FA70 s18]

Any bonus or interest payable to an individual under an instalment savings scheme (within the meaning of section 53 of the Finance Act, 1970) shall be disregarded for the purposes of the Income Tax Acts if, or in so far as, the bonus or interest is payable in respect of an amount not exceeding the amount permitted under the scheme to be paid by the individual.