Finance Act, 1991

Application of section 21 (rented residential accommodation: deduction for expenditure on refurbishment) of Finance Act, 1985.

57.—(1) This section applies to—

(a) expenditure incurred on refurbishment (being refurbishment within the meaning of paragraph (a) of section 55 (2)) of a specified building (being a specified building within the meaning of subsection (1) (a) of section 21 of the Finance Act, 1985 ) in the Temple Bar Area;

(b) relevant expenditure within the meaning of subsection (1) (a) of section 21 of the Finance Act, 1985 , incurred—

(i) in the designated area known as the Custom House Docks Area (as provided for by section 41 of the Finance Act, 1986 ) in the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of the said section 41),

(ii) in any other designated area (as so provided for and subject to section 27 of the Finance Act, 1987 ) in the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993, and

(iii) in any other area, in the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992.

(2) As respects expenditure to which subsection (1) (a) applies, section 21 of the Finance Act, 1985 , shall be deemed to have effect—

(a) as if for the definition of “refurbishment” in paragraph (1) (a) of the said section 21, there were substituted the definition of “refurbishment” in paragraph (a) of section 55 (2),

(b) as if for the definition of “qualifying period” (as provided for by section 28 of the Finance Act, 1988 ) in subsection (2) (a) (iii) there were substituted the following definition:

“‘qualifying period’ means the period commencing on the 6th day of April, 1991, and ending on the 5th day of April, 1996;”,

and

(c) as if the proviso to subsection (2) of section 29, and subsections (3) and (4) of that section, of the Finance Act, 1983 , were deleted.

(3) As respects relevant expenditure to which subsection (1) (b) applies, section 21 of the Finance Act, 1985 , shall have effect—

(a) as if for the definition of “qualifying period” (as provided for by section 28 of the Finance Act, 1988 ) in subsection (2) (a) (iii) there were substituted—

(i) in the case of relevant expenditure within the meaning of subparagraph (i) of the said subsection (1) (b), the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of section 41 of the Finance Act, 1986 );”,

(ii) in the case of relevant expenditure within the meaning of subparagraph (ii) of the said subsection (1) (b), the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993;”,

and

(iii) in the case of relevant expenditure within the meaning of subparagraph (iii) of the said subsection (1) (b), the following definition:

“‘qualifying period’ means the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992;”,

(b) as if the proviso to section 29 (2) of the Finance Act, 1983 , were deleted, and

(c) in the case of relevant expenditure within the meaning of subparagraphs (i) and (ii) of the said subsection (1) (b), as if subsections (3) and (4) of section 29 of the Finance Act, 1983 , were deleted.