Finance Act, 1987

Designated areas for urban renewal relief.

27.—(1) For the purposes of Chapter V of Part I of the Finance Act, 1986 , the Minister for Finance, after consultation with the Minister for the Environment, may, by order, direct that—

(a) (i) the definition of “designated area” contained in section 41 of that Act shall include such area or areas described in the order which, but for the order, would not be included in that definition,

(ii) as respects any such area so described in the order, the definition of “qualifying period” in section 42, 44 or 45 of the said Act shall be construed as a reference to such period as shall be specified in the order in relation to that area: provided that no such period specified in the order shall commence prior to the date of the passing of this Act, or end after the 31st day of May, 1991,

and

(b) the definition of “the Custom House Docks Area” contained in the said section 41 shall, with effect from the date of such order, include such area or areas described in the order which, but for the order, would not be included in that definition,

and where the Minister for Finance so orders, the said definition of “designated area” or “the Custom House Docks Area”, as the case may be, shall be deemed to include the said area or areas and the said definition of “qualifying period” shall be construed as a reference to the said period specified in the order.

(2) The Minister for Finance may make orders for the purpose of this section and any order made under this section shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the order is passed by Dáil Éireann within the next twenty-one days on which Dáil Éireann has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.