Taxes Consolidation Act, 1997 (Number 39 of 1997)
This section has been repealed.
Repealed by F(No.2)A08 sched4(part1). Applies as respects any tax that becomes due and payable on or after 1 March 2009.
[4]>
995Priority in winding up of certain amounts.
[FA89 s10]
For the purposes of subsection (2)(a)(iii) of section 285 of the Companies Act, 1963—
(a) the amount referred to in that subsection shall be deemed to include any amount—
[3]>
(i) which, apart from [1]>regulation 31A of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)<[1][1]>Regulation 29 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)<[1], would otherwise have been an amount due at the relevant date in respect of sums which an employer is liable under this Chapter and any regulation under this Chapter (other than [2]>regulation 31A of those Regulations<[2][2]>Regulation 29 of those Regulations<[2]) to deduct from emoluments, to which this Chapter applies, paid by the employer during the period of 12 months next before the relevant date,
<[3]
[3]>
(i) which, apart from Regulation 29 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001), would otherwise have been an amount due at the relevant date in respect of—
(I) sums which an employer is liable under this Chapter and any regulations under this Chapter (other than Regulation 29 of those Regulations) to deduct from emoluments, to which this Chapter applies, paid by the employer, and
(II) sums that were not so deducted but which the employer was liable, in accordance with section 985A and any regulations under that section, to remit to the Collector-General in respect of notional payments made by the employer,
during the period of 12 months next before the relevant date,
<[3]
(ii) reduced by any amount which the employer was liable under this Chapter and any regulation under this Chapter to repay during that period, and
(iii) with the addition of any interest payable under section 991,
and
(b) the relevant date shall, notwithstanding subsection (1) of section 285 of the Companies Act, 1963, be deemed to be the date which is the ninth day after the end of the income tax month in which the relevant date (within the meaning of that subsection) occurred.
<[4]
[1]
Substituted by FA02 sched6(3)(t)(i). Shall be deemed to have come into force and take effect as on and from 1 January 2002.
[2]
Substituted by FA02 sched6(3)(t)(ii). Shall be deemed to have come into force and take effect as on and from 1 January 2002.
[4]
Repealed by F(No.2)A08 sched4(part1). Applies as respects any tax that becomes due and payable on or after 1 March 2009.