Finance Act, 2001

Amendment of Chapter 9 (park and ride facilities and certain related developments) of Part 10 of Principal Act.

58.—Chapter 9 (inserted by the Finance Act, 1999 ) of Part 10 of the Principal Act is amended—

(a) in section 372V—

(i) by the substitution in subsection (1)(a) of “subsections (2) to (4A)” for “subsections (2) to (4)”,

(ii) in subsection (4)—

(I) by the insertion in paragraph (a) after “was first used” of “or, where subsection (4A) applies, first used as a qualifying park and ride facility,” and

(II) by the substitution in paragraph (b) of “qualifying park and ride facility” for “park and ride facility”,

and

(iii) by the insertion of the following after subsection (4):

“(4A) Notwithstanding subsections (1), (3)(a) and (4), where it is shown in respect of a building or structure which is to be a qualifying park and ride facility that the relevant local authority is unable to give the certificate in writing referred to in the definition of ‘qualifying park and ride facility’ in section 372U(1) due to a delay in the provision of a train service to serve the building or structure, then, in relation to capital expenditure incurred in the qualifying period on the construction or refurbishment of that building or structure—

(a) section 271 shall apply—

(i) as if in the definition of ‘appropriate chargeable period’ in subsection (1) of that section ‘the chargeable period in which the building or structure becomes an industrial building or structure’ were substituted for ‘the chargeable period related to the expenditure’, and

(ii) as if in subsection (6) of that section ‘if, within 5 years of the building or structure coming to be used, it is not an industrial building or structure’ were substituted for ‘if the building or structure, when it comes to be used, is not an industrial building or structure’,

(b) section 272 shall apply as if in subsection (4)(a)(ii) of that section ‘beginning with the time when the building or structure was first used as an industrial building or structure’ were substituted for ‘beginning with the time when the building or structure was first used’,

(c) section 274 shall apply—

(i) as if in subsection (1)(b)(i)(II) of that section ‘after the building or structure was first used as an industrial building or structure’ were substituted for ‘after the building or structure was first used’, and

(ii) as if in subsection (5)(a) of that section ‘when the building or structure was first used as an industrial building or structure’ were substituted for ‘when the building or structure was first used for any purpose’,

(d) section 277 shall apply—

(i) as if in subsection (2) of that section ‘when the building or structure is first used as an industrial building or structure’ were substituted for ‘when the building or structure is first used’, and

(ii) as if in subsection (4)(a) of that section ‘when the building or structure was first used as an industrial building or structure’ were substituted for ‘when the building or structure was first used for any purpose’,

(e) section 278 shall apply as if in subsection (2) of that section ‘before the building or structure is first used as an industrial building or structure’ were substituted for ‘before the building or structure is first used for any purpose’, and

(f) section 279 shall apply as if in subsections (2) and (3) of that section ‘before the building or structure is used as an industrial building or structure or within the period of one year after it commences to be so used’ were substituted for ‘before the building or structure is used or within the period of one year after it commences to be used’ (in each place where it occurs in those subsections).”,

and

(b) in section 372W—

(i) in subsection (1)—

(I) by the deletion in paragraph (a) of “and” where it last occurs, and

(II) by the substitution of the following for paragraph (c):

“(c) (i) is in use for the purposes of the retailing of goods or the provision of services only within the State but excluding any building or structure in use—

(I) as offices, or

(II) for the provision of mail order or financial services,

or

(ii) is let on bona fide commercial terms for such use as is referred to in subparagraph (i) and for such consideration as might be expected to be paid in a letting of the building or structure negotiated on an arm's length basis,”,

(ii) in subsection (2)(a), by the substitution of “subsections (3) to (5A)” for “subsections (3) to (5)”,

(iii) in subsection (5)(a), by the insertion after “was first used” of “or, where subsection (5A) applies, first used as a qualifying premises”, and

(iv) by the insertion of the following after subsection (5):

“(5A) Notwithstanding subsections (2)(a), (4)(a) and (5), where it is shown in respect of a building or structure which is to be a qualifying premises that the relevant local authority is unable to give the certificate in writing referred to in subsection (1)(a) relating to compliance with certain requirements at a park and ride facility which would be a qualifying park and ride facility but for the delay referred to in section 372V(4A), then, in relation to capital expenditure incurred in the qualifying period on the construction or refurbishment of the building or structure—

(a) section 271 shall apply—

(i) as if in the definition of ‘appropriate chargeable period’ in subsection (1) of that section ‘the chargeable period in which the building or structure becomes an industrial building or structure’ were substituted for ‘the chargeable period related to the expenditure’, and

(ii) as if in subsection (6) of that section ‘if, within 5 years of the building or structure coming to be used, it is not an industrial building or structure’ were substituted for ‘if the building or structure, when it comes to be used, is not an industrial building or structure’,

(b) section 272 shall apply as if in subsection (4)(a)(ii) of that section ‘beginning with the time when the building or structure was first used as an industrial building or structure’ were substituted for ‘beginning with the time when the building or structure was first used’,

(c) section 274 shall apply—

(i) as if in subsection (1)(b)(i)(II) of that section ‘after the building or structure was first used as an industrial building or structure’ were substituted for ‘after the building or structure was first used’, and

(ii) as if in subsection (5)(a) of that section ‘when the building or structure was first used as an industrial building or structure’ were substituted for ‘when the building or structure was first used for any purpose’,

(d) section 277 shall apply—

(i) as if in subsection (2) of that section ‘when the building or structure is first used as an industrial building or structure’ were substituted for ‘when the building or structure is first used’, and

(ii) as if in subsection (4)(a) of that section ‘when the building or structure was first used as an industrial building or structure’ were substituted for ‘when the building or structure was first used for any purpose’,

(e) section 278 shall apply as if in subsection (2) of that section ‘before the building or structure is first used as an industrial building or structure’ were substituted for ‘before the building or structure is first used for any purpose’, and

(f) section 279 shall apply as if in subsections (2) and (3) of that section ‘before the building or structure is used as an industrial building or structure or within the period of one year after it commences to be so used’ were substituted for ‘before the building or structure is used or within the period of one year after it commences to be used’ (in each place where it occurs in those subsections).”.