Finance Act, 1980

Deletion of references to sterling in Capital Gains Tax Act, 1975.

62.—The Capital Gains Tax Act, 1975 , is hereby amended, as respects the year 1980-81 and subsequent years of assessment—

(a) in section 7 (1), by the deletion in paragraph (b) of “and sterling”, and

(b) in section 46, by the deletion in subsection (6) of “or in sterling”,

and the said paragraph (b) and the said subsection (6), as so amended, are set out in the Table to this section.


(b) any currency, other than Irish currency, and

(6) This section shall not apply to a debt owed by a bank which is not in Irish currency and which is represented by a sum standing to the credit of a person in an account in the bank unless it represents currency acquired by the holder for the personal expenditure outside the State of himself or his family or dependants (including expenditure on the maintenance of any residence outside the State).