Income Tax Act, 1967.

Securities of Irish local authorities issued abroad.

470.—Securities issued (whether before or after the commencement of this Act) outside the State by a local authority in the State for the purpose of raising any money which they are authorised to borrow, if issued under the authority of the Minister for Finance, shall not be liable to tax, except where they are held by persons domiciled in the State or ordinarily resident in the State.

“Local authority” in this section includes any public body which is recognised as a local authority for the purposes of this section by the Minister for Local Government.