Finance Act 2010

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Amendment of section 486C (relief from tax for certain start-up companies) of Principal Act.

45.— (1) Section 486C of the Principal Act is amended—

(a) in subsection (1)(a) by inserting the following definition before the definition of “EEA Agreement”:

“ ‘ Commission Regulation (EC) No. 1998/2006 ’ means Commission Regulation (EC) No. 1998/2006 of 15 December 2006 ⁵ on the application of Articles 86 and 87 of the Treaty to de minimis aid;”,

(b) in subsection (2)(a)—

(i) by inserting “or 2010” after “2009”,

(ii) by deleting “or” at the end of subparagraph (iii), and

(iii) in subparagraph (iv) by substituting “section 441, or” for “section 441.”,

(c) in subsection (2)(a), by inserting the following after subparagraph (iv):

“(v) the activities of which form part of an undertaking to which subparagraphs (a) to (h) of Article 1 of Commission Regulation (EC) No. 1998/2006 apply.”,

and

(d) by inserting the following after subsection (11):

“(12) Notwithstanding any obligation to maintain secrecy or any other restriction on the disclosure of information imposed by or under statute or otherwise, the Revenue Commissioners or any officer authorised by them for the purposes of this subsection may—

(a) disclose to any board established by statute, any public or local authority or any other agency of the State (in this paragraph referred to as a ‘relevant body’) information relating to the amount of relief granted to a company under this section, being information which is required by the relevant body concerned for the purpose of ensuring that the ceilings on aid set out in Commission Regulation (EC) No. 1998/2006 are not exceeded, and

(b) provide to the European Commission such information as may be requested by the European Commission in accordance with Article 3 of Commission Regulation (EC) No. 1998/2006.”.

(2) This section has effect in relation to accounting periods beginning on and from 1 January 2009.

⁵ OJ No. L 379 of 28.12.2006, p.5