Finance Act, 1997
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Amendment of Chapter IV (Urban Renewal Reliefs: Introduction of New Scheme in Certain Areas) of Part I of Finance Act, 1994 . |
26.—Chapter IV of Part I of the Finance Act, 1994 , is hereby amended— | |
(a) in section 38— | ||
(i) by the substitution of the following definition for the definition of “enterprise area” in subsection (1): | ||
“‘enterprise area’ means— | ||
(a) an area or areas specified as an enterprise area by order under section 39, or | ||
(b) an area or areas described in the Tenth Schedule to the Finance Act, 1997;”, | ||
(ii) by the substitution of the following definition for the definition of “qualifying period” in subsection (1): | ||
“‘qualifying period’ means— | ||
(a) subject to subsection (3) and section 39 and other than for the purposes of section 41B, the period commencing on the 1st day of August, 1994, and ending on the 31st day of July, 1997, or | ||
(b) in respect of an area or areas described in the Tenth Schedule to the Finance Act, 1997, the period commencing on the 1st day of July, 1997, and ending on the 30th day of June, 2000;”, | ||
(iii) by the insertion of the following definition after the definition of “qualifying period” in subsection (1): | ||
“‘the relevant local authority’, in relation to the construction of, conversion into, refurbishment of, or, as the case may be, construction or refurbishment of a building or structure to which paragraph (a) of subsection (3) applies, means the council of a county or the corporation of a county or other borough or, where appropriate, the urban district council, in whose functional area the qualifying premises is situated;”, | ||
and | ||
(iv) by the addition of the following subsections after subsection (2): | ||
“(3) (a) Where in relation to the construction of, conversion into, refurbishment of, or, as the case may be, construction or refurbishment of a building or structure which is— | ||
(i) to be an industrial building or structure to which section 40 applies, | ||
(ii) a qualifying premises within the respective meanings assigned in sections 41, 42 (other than a building or structure to which paragraph (a) (iv) of that meaning in that section applies), 43, 44, 45 and 46, or | ||
(iii) a qualifying building within the meaning assigned in section 41A, | ||
the relevant local authority gives a certificate in writing, on or before the 30th day of September, 1997, to the person constructing, converting or refurbishing, as the case may be, such a building or structure stating that it is satisfied that not less than 15 per cent. of the total cost of the building or structure had been incurred prior to the 31st day of July, 1997, then, the reference in paragraph (a) of the definition of ‘qualifying period’ in subsection (1) to the period ending on the 31st day of July, 1997, shall, as respects such a building or structure, be construed as a reference to a period ending on the 31st day of July, 1998, and the references in paragraph (a) of subsection (2) and paragraph (a) (i) of subsection (3) of section 40 and in paragraphs (a) (i) and (b) (i) (I) of subsection (8) of section 41A to ‘before the 1st day of August, 1997’ and the reference in paragraph (a) (i) of subsection (4) of section 41 to ‘the 1st day of August, 1997’ shall be construed as references to ‘before the 1st day of August, 1998’ and ‘the 1st day of August, 1998’, respectively. | ||
(b) In considering whether to give such a certificate as is referred to in paragraph (a), the relevant local authority shall have regard only to the guidelines in relation to the giving of such certificates entitled ‘Extension from 31 July, 1997, to 31 July, 1998, of the time limit for qualifying expenditure on developments’ which were issued by the Department of the Environment on the 28th day of January, 1997. | ||
(4) The Tenth Schedule to the Finance Act, 1997, shall apply for the purposes of supplementing this Chapter.”, | ||
(b) in section 39— | ||
(i) by the addition after subsection (1) of the following subsection: | ||
“(1A) The Minister for Finance may, after consultation with the Minister for Transport, Energy and Communications and following receipt of a proposal from or on behalf of a company intending to carry on qualifying trading operations (within the meaning of section 41A) in an area or areas immediately adjacent to any of the airports commonly known as— | ||
(a) Cork Airport, | ||
(b) Donegal Airport, | ||
(c) Galway Airport, | ||
(d) Kerry Airport, | ||
(e) Knock International Airport, | ||
(f) Sligo Airport, or | ||
(g) Waterford Airport, | ||
being a company which, if those trading operations were to be carried on in an area which apart from this subsection would be an enterprise area, would be a qualifying company (within the meaning of section 41A), by order direct that— | ||
(i) the said area or areas described in the order shall be an enterprise area for the purposes of this Chapter, and | ||
(ii) as respects any such area so described in the order, the reference in paragraph (a) of the definition of ‘qualifying period’ in section 38(1) to the period commencing on the 1st day of August, 1994, and ending on the 31st day of July, 1997, shall be construed as a reference to such period as shall be specified in the order in relation to that area, but no such period specified in the order shall commence before the 1st day of August, 1994, or end after the 30th day of June, 2000.”, | ||
and | ||
(ii) by the substitution in subsection (2) of “subsection (1) or (1A)” for “subsection (1)”. | ||
(c) in section 42 by the substitution of the following definition for the definition of “qualifying lease” in subsection (1): | ||
“‘qualifying lease’ means a lease in respect of a qualifying premises granted on bona fide commercial terms— | ||
(a) in the qualifying period in the case of a qualifying premises which is a building or structure to which subsection (3) (a) of section 38 refers, or | ||
(b) in the qualifying period, or within the period of one year from the day next after the end of the qualifying period in the case of any other qualifying premises, | ||
by a lessor to a lessee who is not connected with the lessor, or with any other person who is entitled to a rent in respect of the qualifying premises, whether under that lease or any other lease;”. |