S.I. No. 466/1999 - Taxes Consolidation Act, 1997 (Section 322) (Extension of the Specified Period - Custom House Docks Area) Order, 2000

I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by section 322 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), hereby order as follows:

1. This Order may be cited as the Taxes Consolidation Act, 1997 (Section 322) (Extension of the Specified Period — Custom House Docks Area) Order, 2000.

2. In this Order—

“area” means the area described in Part 2 of the Schedule to this Order;

“Principal Act” means the Taxes Consolidation Act, 1997 (No. 39 of 1997).

3. It is hereby directed that, for the purposes of section 322 of the Principal Act—

(a) the definition of “the Custom House Docks Area” contained in the said section 322 shall include the area, and

(b) as respects the area, the definition of “the specified period” in that section (as construed by reference to the Taxes Consolidation Act, 1997 (Designation of Urban Renewal Areas and Tax Relief on Income from Certain Trading Operations) Order, 1997 ( S.I. No. 483 of 1997 )) shall, in lieu of being so construed, be construed as follows:

(i) subject to subparagraphs (ii) and (iii), the period commencing 10 May 1997 and ending 24 January 1999,

(ii) for the purposes of section 323 of the Principal Act, the period commencing 10 May 1997 and ending 31 December 1999, but where, in relation to the construction of a qualifying premises within the meaning of that section, at least 51 per cent of the total capital expenditure which is incurred on the construction of the premises is incurred before 1 January 2000, the reference in this subparagraph to 31 December 1999 shall be construed as a reference to 30 June 2000,

(iii) for the purposes of sections 325 to 328 of the Principal Act, the period commencing 10 May 1997 and ending 31 December 1999.

SCHEDULE

PART 1

In this Schedule—

(a) a reference to a line drawn along any street, road or river or the projection of any street or road shall be construed as a line drawn along the centre of such street, road or river or the projection of a line drawn along the centre of such street or road, as the case may be, and

(b) a reference to the point at which any projection is said to intersect any river shall be construed as a reference to the point at which a line drawn along the projection would intersect a line drawn along the centre of the river.

PART 2

Description of land

That part of the County Borough of Dublin bounded by a line commencing at the point (hereafter in this description referred to as the “first-mentioned point”) where the southerly projection of Commons Street intersects the River Liffey, then continuing in an easterly direction along the River Liffey to the point where it would be intersected by the southerly projection of Guild Street, then continuing in a northerly direction along the last-mentioned projection and Guild Street to the point where it joins Mayor Street Lower, then continuing in a westerly direction along Mayor Street Lower to the point where it joins Commons Street, then continuing in a southerly direction along Commons Street and the southerly projection of Commons Street to the first-mentioned point.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order extends the end date in respect of expenditure incurred for capital allowances on the construction of commercial premises in the 12 acre site of the Custom House Docks Area in Dublin from the 24th of January, 1999 to the 31st December, 1999 and in certain cases, subject to conditions, to the 30th June 2000. It makes a similar extension for residential reliefs purposes to the 31st of December, 1999. The authority for these extensions is provided for in section 322 (2) of the Taxes Consolidation Act, 1997 as amended by section 20 (1) of the Urban Renewal Act, 1998 . The amendments to section 322 are commenced by the Urban Renewal Act, 1998 (Section 20) (Commencement Order), 2000 S.I. No 465 of 1999 ).