Finance Act, 1976

Amendment of section 54 (meaning of “goods”) of Corporation Tax Act, 1976.

27.Section 54 of the Corporation Tax Act, 1976 , is hereby amended by the addition of the following subsection:

“(4) (a) ‘Goods’ in this section shall not include goods sold to the agency whether or not the goods are exported out of the State.

(b) ‘The agency’ in paragraph (a) means the Minister for Agriculture and Fisheries when exercising or performing any power or function conferred on him by Regulation 3 of the European Communities (Common Agricultural Policy) (Market Intervention) Regulations, 1973 , and any other person when exercising or performing any corresponding power or function in any member state of the European Economic Community.”.