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Amendment of section 246 (interest payments by companies and to non-residents) of Principal Act.
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29.— (1) Section 246 of the Principal Act is amended—
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(a) in subsection (3) by substituting the following for paragraph (c):
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“(c) interest paid to a person whose usual place of abode is outside the State—
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(i) in respect of a relevant security, or
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(ii) by a specified collective investment undertaking within the meaning of section 734,”,
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(b) in subsection (3) by inserting the following after paragraph (f):
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“(fa) interest paid in the State to an exempt approved scheme within the meaning of section 774,”,
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and
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(c) by deleting subsection (4).
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(2) This section shall apply to interest paid on or after the passing of this Act.
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