Finance Act, 2000

Amendment of Part 14 (taxation of companies engaged in manufacturing trades, certain trading operations carried on in Shannon Airport and certain tradingoperations carried on in the Custom House Docks Area) of Principal Act.

83.—(1) Part 14 of the Principal Act is amended—

(a) in section 445, by the substitution for subsection (6) of the following:

“(6) Where the Minister and a company in relation to which a certificate under subsection (2) has been given—

(a) agree to the revocation of that certificate, or

(b) agree to the revocation of that certificate and its replacement by another certificate to be given to the company under subsection (2),

the Minister may by notice in writing served by registered post on the company, revoke the first-mentioned certificate with effect from such date as may be specified in the notice; but this subsection shall not affect the operation of subsection (4) or (5).”,

(b) in section 446—

(i) by the substitution in subsection (2) of “subsection (4), (5), (5A) or (6)” for “subsection (4), (5) or (6)”,

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

“(5A) Notwithstanding subsection (5), where, in the case of a company in relation to which a certificate under subsection (2) has been given, the Minister receives a notification from the Central Bank of Ireland in accordance with section 96 of the Central Bank Act, 1989, as to the non-compliance by the company with any obligation imposed on it by the Central Bank of Ireland under Chapter VII of the Central Bank Act, 1989, the Minister shall, by notice in writing served by registered post on the company, revoke the certificate with effect from such date as may be specified in the notice.”,

and

(iii) by the substitution for subsection (6) of the following:

“(6) Where the Minister and a company in relation to which a certificate under subsection (2) has been given—

(a) agree to the revocation of that certificate, or

(b) agree to the revocation of that certificate and its replacement by another certificate to be given to the company under subsection (2),

the Minister may by notice in writing served by registered post on the company, revoke the first-mentioned certificate with effect from such date as may be specified in the notice; but this subsection shall not affect the operation of subsection (4), (5) or (5A).”,

(c) by the substitution for section 447 of the following:

“Appeals.

447.—An appeal to the Appeal Commissioners shall lie on any question arising under this Part (apart from any question arising under section 445 or 446) in the like manner as an appeal would lie against an assessment to corporation tax, and the provisions of the Tax Acts relating to appeals shall apply accordingly.”,

(d) in section 448—

(i) by the substitution in subsection (1) of “sections 22A, 157, 158, 239, 241, 440, 441, 449, 644B” for “sections 157, 158, 239, 241, 440, 441, 442”, and

(ii) by the deletion of subsection (7),

and

(e) by the deletion of section 449(4) and section 450(5).

(2) (a) Paragraphs (a) and (b (iii) of subsection (1) shall apply as on and from 1 January 2000.

(b) Paragraphs (b)(i), (b)(ii) and (c) of subsection (1) shall apply as on and from the date of the passing of this Act.

(c) Subsection (1)(d)(i) shall apply as respects accounting periods ending on or after 1 January 2000.

(d) Paragraphs (d)(ii) and (e) of subsection (1) shall apply as respects accounting periods beginning after 1 April 2000.