Finance Act, 1994

Relief for payments to National Co-operative Farm Relief Services Ltd. and grants made to its members.

52.—(1) In this section—

“the agreement” means the agreement in writing dated the 4th day of July, 1991, between the Minister for Agriculture, Food and Forestry and the National Co-operative for the provision of financial support for farm relief services together with every amendment of the agreement in accordance with Article 9.1 thereof;

“a member co-operative” means a society engaged in the provision of farm relief services which has been admitted to membership of the National Co-operative;

“the Minister” means the Minister for Agriculture, Food and Forestry;

“the National Co-operative” means the society registered on the 13th day of August, 1980, as National Co-operative Farm Relief Services Limited;

“society” means a society registered under the Industrial and Provident Societies Acts, 1893 to 1978.

(2) Notwithstanding any provision of the Corporation Tax Acts—

(a) a grant made under Article 3.1 of the agreement by the Minister on or after the 1st day of April, 1993, to the National Co-operative, and

(b) a transfer of monies under Article 3.6 of the agreement by the National Co-operative on or after the 1st day of April, 1993, to a member co-operative,

shall be disregarded for all the purposes of those Acts.