Finance Act, 1996

Amendment of section 36A (special investment policies) of Corporation Tax Act, 1976.

49.—(1) Section 36A (inserted by the Finance Act, 1993 ) of the Corporation Tax Act, 1976 , is hereby amended in subsection (6) by the insertion of the following proviso:

“Provided that in computing profits for the purposes of this subsection, subsection (1A) of section 13 shall apply as if the rate per cent. of capital gains tax specified in subsection (3) of section 3 of the Capital Gains Tax Act, 1975 , were the rate per cent. of corporation tax specified in paragraph (b) of subsection (1) of section 1.”.

(2) This section shall have effect as on and from the 1st day of April, 1995.