Finance Act 2015

Amendment of Part 20 of Principal Act (companies’ chargeable gains)

40. Chapter 1 of Part 20 of the Principal Act is amended—

(a) in section 615(2)(a), by substituting the following for subparagraph (iv):

“(iv) the company acquiring the assets is not—

(I) an authorised investment company (within the meaning of Part XIII of the Companies Act 1990 ) that is an investment undertaking (within the meaning of section 739B), or

(II) an authorised ICAV (within the meaning of section 2 of the Irish Collective Asset-management Vehicles Act 2015 (No. 2 of 2015)),”,

and

(b) in section 617(1)(c)(ii), by—

(i) substituting “section 739B),” for “section 739B), or” in Clause I,

(ii) substituting “section 705A), or” for “section 705A),” in Clause II, and

(iii) inserting the following after Clause II:

“(III) an authorised ICAV (within the meaning of section 2 of the Irish Collective Asset-management Vehicles Act 2015 (No. 2 of 2015)),”.