Finance Act, 2000

Amendment of section 515 (excess or unauthorised shares) of Principal Act.

24.—Section 515 of the Principal Act is amended—

(a) in subsection (2A)(b) (inserted by the Finance Act, 1999 ) by the deletion of “5 years” and the substitution of “period of 5 years, or such lesser period as the Minister for Finance may be order prescribe,”, and

(b) by the insertion after subsection (7) of the following:

“(8) Where an order is proposed to be made under subsection (2A)(b), a draft of the order shall be laid before Dáil Éireann, and the order shall not be made until a resolution approving of the draft has been passed by Dáil Éireann.”.