Finance Act, 1986

Application of Age of Majority Act, 1985.

112.—(1) Notwithstanding the provisions of subsection (4) of section 2 of the Age of Majority Act, 1985 , subsections (2) and (3) of the said section 2 shall, subject to subsection (2), apply and have effect for the purposes of the Income Tax Acts and any other statutory provision (within the meaning of the said Act) dealing with the imposition, repeal, remission, alteration or regulation of any tax or other duty under the care and management of the Revenue Commissioners and accordingly subparagraph (vii) of paragraph (b) of the said subsection (4) shall cease to have effect.

(2) Nothing in subsection (1) shall affect a claimant's entitlement to a deduction under section 138A (inserted by the Finance Act, 1985 ) or section 141 (inserted by this Act) of the Income Tax Act, 1967 .

(3) This section shall be deemed to have come into force and shall take effect as on and from the 6th day of April, 1986, and so far as it relates to gift tax or inheritance tax shall have effect in relation to gifts and inheritances taken on or after that date.