Finance Act, 1996
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Exemption of certain milk boards and associated companies from capital gains tax. |
64.—(1) In this section— | |
“the Boards” means— | ||
(a) the Dublin District Milk Board established under the Dublin District Milk Board Order, 1936 (S.R. & O. No. 254 of 1936), and | ||
(b) the Cork District Milk Board established under the Cork District Milk Board Order, 1937 (S.R. & O. No. 91 of 1937); | ||
“the companies” means— | ||
(a) the company incorporated on the 19th day of November, 1991, as Dairysan Limited, and | ||
(b) the company incorporated on the 14th day of February, 1994, as Glenlee (Cork) Limited; | ||
“the Interim Board” means the Interim Board established under the Milk (Regulation of Supply) (Establishment of Interim Board) Order, 1994, ( S.I. No. 408 of 1994 ). | ||
(2) Section 23 of the Capital Gains Tax Act, 1975 , shall apply to a gain accruing on the disposal on or after the 5th day of December, 1994, of an asset— | ||
(a) by the Boards or the companies to the Interim Board, and | ||
(b) by the Interim Board, | ||
as it applies to a gain accruing to a body specified in that section. |