S.I. No. 483/1997 - Taxes Consolidation Act, 1997 (Designation of Urban Renewal Areas and Tax Relief on Income From Certain Trading Operations) Order, 1997

S.I. No. 483 of 1997.

TAXES CONSOLIDATION ACT, 1997 (DESIGNATION OF URBAN RENEWAL AREAS AND TAX RELIEF ON INCOME FROM CERTAIN TRADING OPERATIONS) ORDER, 1997

I, Charlie McCreevy, Minister for Finance, in exercise of the powers conferred on me by sections 322 and 446 (12) of the Taxes Consolidation Act, 1997 (No. 39 of 1997), and after consultation with the Minister for the Environment and Local Government, hereby order as follows:

1. This Order may be cited as the Taxes Consolidation Act, 1997 (Designation of Urban Renewal Areas and Tax Relief on Income from Certain Trading Operations) Order, 1997.

2. In this Order "the area" means the area described in Part II of the Schedule to this Order.

3. It is hereby directed that, for the purposes of sections 322 and 446 of the Taxes Consolidation Act, 1997 (No. 39 of 1997)

( a ) the definition of "the Custom House Docks Area" contained in the said section 322 shall include the area, and

( b ) as respects the area, the definition of "the specified period" contained in the said section 322 shall be construed as a reference to the period commencing on the 10th day of May, 1997 and ending on the 24th day of January, 1999.

SCHEDULE

PART I

In this Schedule:-

( a ) a reference to a line drawn along any street, road or river or the projection of any street or road shall be construed as a line drawn along the centre of such street, road or river or the projection of a line drawn along the centre of such street or road, as the case may be, and

( b ) a reference to the point at which any projection is said to intersect any river shall be construed as a reference to the point at which a line drawn along the projection would intersect a line drawn along the centre of the river.

PART II

Description of land

That part of the County Borough of Dublin bounded by a line commencing at the point (hereafter in this description referred to as 'the first-mentioned point') where the southerly projection of Commons Street intersects the River Liffey, then continuing in an easterly direction along the River Liffey to the point where it would be intersected by the southerly projection of Guild Street, then continuing in a northerly direction along the last-mentioned projection and Guild Street to the point where it joins Mayor Street Lower, then continuing in a westerly direction along Mayor Street Lower to the point where it joins Commons Street, then continuing in a southerly direction along Commons Street and the southerly projection of Commons Street to the first-mentioned point.

GIVEN under my Official Seal, this 8th day of December, 1997

Charlie McCreevy

Minister for Finance

Explanatory Note

This Order declares a certain area to be part of the Custom House Docks Area for the purposes of incentive tax reliefs for urban renewal provided for that area and also for the purpose of the tax relief provided for certain trading operations carried on in the Custom House Docks Area.

The Order also prescribes, in relation to this area, the specified period of the availability of the incentives for urban renewal.