Finance Act, 1995

Relief for certain payments to National Cooperative Farm Relief Services Ltd. and certain payments made to its members.

57.—(1) In this section—

“the agreement” means the agreement in writing dated the 16th day of May, 1995, between the Minister for Agriculture, Food and Forestry and the National Co-operative for the provision of financial support for the development of agricultural services together with every amendment of the agreement in accordance with Article 9.1 thereof;

“the commencement date” means the 12th day of December, 1994, being the date specified in the agreement as the commencement date;

“a member co-operative”, “the Minister”, “the National Co-operative” and “society” have the meanings respectively assigned to them in section 52 (1) of the Finance Act, 1994 .

(2) Notwithstanding any provision of the Corporation Tax Acts—

(a) a payment made under Article 3.1 (a) of the agreement by the Minister on or after the commencement date to the National Co-operative, and

(b) a transmission of monies under Article 3.4 in respect of payments under Article 3.1 (a) of the agreement by the National Co-operative on or after the commencement date to a member co-operative,

shall be disregarded for all of the purposes of those Acts.