Capital Gains Tax Act, 1975

Superannuation funds.

21.—(1) A gain shall not be a chargeable gain if accruing to a person from his disposal of investments held by him as part of a fund approved under—

(a) section 222 of the Income Tax Act, 1967 ;

(b) section 235 (4) of the Income Tax Act, 1967 ;

(c) section 235A (5) of the Income Tax Act, 1967 (inserted by the Finance Act, 1974 ); or

(d) section 16 of the Finance Act, 1972 :

Provided that where part only of a fund is approved under any of the said sections, the gain shall be exempt from being a chargeable gain to the same extent only as income derived from the assets would be exempt under the relevant section under which approval was given.

(2) For the purposes of this section, the fund set up under section 6A of the Oireachtas (Allowances to Members) Act, 1938 (inserted by the Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1960 ), shall be deemed to be a fund approved under section 16 of the Finance Act, 1972 .