Finance Act, 1992
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Securities of Bord Gáis Éireann. |
24.—(1) Part XXXII of the Income Tax Act, 1967 , is hereby amended— | |
(a) by the insertion after section 467B (inserted by the Finance Act, 1989 ) of the following section: | ||
“467C.—(1) Any debentures, debenture stock, bonds, notes, certificates of charge or other forms of security issued after the passing of the Finance Act, 1992, by Bord Gáis Éireann shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly. | ||
(2) Notwithstanding anything contained in this Act, in computing for the purposes of assessment under Schedule D the amount of the profits or gains of Bord Gáis Éireann for any period for which accounts are made up, there shall be allowed as a deduction the amount of the interest on debentures, debenture stock, bonds, notes, certificates of charge or other forms of security which, by direction of the Minister for Finance given under section 466 as applied by this section, is paid by Bord Gáis Éireann without deduction of tax for such period.”, | ||
and | ||
(b) by the insertion in subsection (1) of section 474 after “467B,” (inserted by the Finance Act, 1989 ) of “467C,” and the said subsection (1), as so amended, is set out in the Table to this subsection. | ||
TABLE | ||
(1) This section applies to any stock or other security on which interest is payable without deduction of income tax by virtue of a direction given by the Minister for Finance in pursuance of section 467 , 467A, 467B, 467C, 471 , 472 or 473 or section 59 of the Finance Act, 1970 or section 92 of the Finance Act, 1973 . | ||
(2) (a) Paragraph (d) of section 19 of the Capital Gains Tax Act, 1975 , is hereby amended, as on and from the passing of this Act, by the insertion after “the Electricity Supply Board,” of “Bord Gáis Éireann,” and the said paragraph (d), as so amended, is set out in the Table to this subsection. | ||
(b) As on and from the passing of this Act, section 41 of the Finance Act, 1982 , in so far as it relates to Bord Gáis Éireann, shall not apply or have effect. | ||
TABLE | ||
(d) debentures, debenture stock, certificates of charge or other forms of security issued by the Electricity Supply Board, Bord Gáis Éireann, Radio Telefís Éireann, the Industrial Credit Corporation p.l.c., Bord Telecom Éireann, Irish Telecommunications Investments p.l.c., Córas Iompair Éireann, The Agricultural Credit Corporation Limited, Bord na Móna, Aerlínte Éireann, Teoranta, Aer Lingus, Teoranta or Aer Rianta, Teoranta. |