Finance Act, 1997
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Repeal of section 80 (exemption of income from carrying out of voluntary health insurance schemes) of Corporation Tax Act, 1976 . |
61.—(1) In this section— | |
“the Board” means the Voluntary Health Insurance Board; | ||
“market value” has the meaning assigned to it in section 49 of the Capital Gains Tax Act, 1975 . | ||
(2) Section 80 of the Corporation Tax Act, 1976 , shall be deemed to have been repealed with effect from the 1st day of March, 1997. | ||
(3) The provisions of section 16 of the Corporation Tax Act, 1976 , shall not apply to a loss incurred by the Board in an accounting period ending before the 1st day of March, 1997. | ||
(4) Notwithstanding any other provision of the Tax Acts, bonds and shares held by the Board on the 28th day of February, 1997, in the course of the business of carrying out schemes of voluntary health insurance shall be deemed to have been disposed of and immediately reacquired by the Board on that date at the assets' market value on that date. |