FINANCE ACT, 2002

• (I) in paragraph (a) of the definition of “necessary construction”, by substituting “Chapter 11 of this Part” for “section 372F or 372I”, and

• (II) in the definition of “refurbishment”, by deleting “and other than for the purposes of sections 372H and 372I”,

and

• (ii) in subsection (2), by substituting “This Chapter and Chapter 11 of this Part” for “This Chapter”,

• (b) in section 372B—

• (i) in subsection (1)—

• (I) in paragraph (a), by substituting “this Chapter or Chapter 11 of this Part” for “this Chapter”, and

• (II) by inserting the following after paragraph (b):

• “(ba) where such an area or areas is or are to be a qualifying area for the purposes of section 372AP, that section shall apply in relation to that area or those areas in so far as that section relates to one or more of the following:

  • (i) expenditure incurred on the construction of a house,

  • (ii) conversion expenditure incurred in relation to a house, and

  • (iii) refurbishment expenditure incurred in relation to a house,”,

and

• (ii) in subsection (4), by substituting “this Chapter or Chapter 11 of this Part” for “this Chapter”,

• (c) in section 372BA—

• (i) in subsection (1)—

• (I) in paragraph (a), by substituting “this Chapter or Chapter 11 of this Part” for “this Chapter”,

• (II) by inserting the following after paragraph (b):

• “(ba) where such an area or areas is or are to be a qualifying area for the purposes of section 372AP, that section shall apply in relation to that area or those areas in so far as that section relates to one or more of the following:

  • (i) expenditure incurred on the construction of a house,

  • (ii) conversion expenditure incurred in relation to a house, and

  • (iii) refurbishment expenditure incurred in relation to a house,”,

and

• (III) in paragraph (c), by inserting “and section 372AL” after “section 372A”,

and

• (ii) in subsection (4), by inserting “under this Chapter or Chapter 11 of this Part” after “may be granted”,

• (d) in section 372L—

• (i) in the definition of “qualifying period”, by deleting paragraphs (b) and (c), and

• (ii) in the definition of “refurbishment”, by deleting “and other than for the purposes of sections 372R and 372RA”,

• (e) in section 372U(1)—

• (i) in paragraph (b) of the definition of “park and ride facility”, by substituting “section 372W or 372AK” for “section 372W, 372X or 372Y”, and

• (ii) in the definition of “the relevant local authority”, by deleting “or the construction of a qualifying premises within the respective meanings assigned in sections 372X and 372Y”,

• (f) in section 372W(2)(c)(i), by substituting “section 372AP or 372AR” and “section 372AP(5) or 372AR(5)” for “section 372X or 372Y” and “section 372X(4) or 372Y(2)(c)”, respectively,

• (g) in section 372AA—

• (i) in subsection (1)—

• (I) by substituting the following for the definition of “qualifying period”:

“‘qualifying period’ means, subject to section 372AB, the period commencing on such day as the Minister for Finance may by order appoint and ending on 31 December 2003;”,

and

• (II) in the definition of “refurbishment”, by deleting “and other than for the purposes of sections 372AG and 372AH”,

and

• (ii) in subsection (2), by substituting “This Chapter and Chapter 11 of this Part” for “This Chapter”,

• (h) in section 372AB—

• (i) in subsection (1)—

• (I) in paragraph (a), by substituting “this Chapter or Chapter 11 of this Part” for “this Chapter”,

• (II) in paragraph (b), by substituting “section 372AR” for “section 372AH”,

• (III) by inserting the following after paragraph (b):

• “(ba) where such an area or areas is or are to be a qualifying area for the purposes of section 372AP, that section shall apply in relation to that area or those areas in so far as that section relates to one or more of the following:

  • (i) expenditure incurred on the construction of a house,

  • (ii) conversion expenditure incurred in relation to a house, and

  • (iii) refurbishment expenditure incurred in relation to a house,”,

and

• (IV) in paragraph (c)—

• (A) by inserting “and section 372AL” after “section 372AA”, and

• (B) in subparagraph (ii), by substituting “any provision of Chapter 11 of this Part” for “sections 372AE, 372AF, 372AG, 372AH and 372AI”,

and

• (ii) in subsection (4), by substituting “this Chapter or Chapter 11 of this Part” for “this Chapter”,

• (i) in Part 1 of the Table to section 458, by substituting “Section 372AR” for “Section 328”, “Section 337”, “Section 349”, “Section 364”, “Section 371”, “Section 372I”, “Section 372RA”, “Section 372Y” and “Section 372AH”, and

• (j) in section 1024(2)(a), by substituting the following for subparagraph (i):

• “(i) relief under sections 244 and 372AR, in the proportions in which they incurred the expenditure giving rise to the relief;”.

PART 2

Consequential Amendments to Other Enactments

• (a) by substituting “Chapter 7 or 11” for “Chapter 7” in each place where it occurs in sections 8(1)(a), 11(1) and 12(1),

• (b) by substituting the following for paragraph (b) of section 8(1):

• “(b) the whole of such an area ought to be a qualifying area for the purposes of one or more of the following provisions of the said Chapter 11—

  • (i) section 372AP, in so far as it relates to conversion expenditure (within the meaning of that Chapter) incurred in relation to a house,

  • (ii) section 372AP, in so far as it relates to refurbishment expenditure (within the meaning of that Chapter) incurred in relation to a house, and

  • (iii) section 372AR.”,

and

• (c) by substituting in section 9 “paragraph (a), (b), (ba) or (c)” for “paragraph (a), (b) or (c)”.

• (a) by inserting “or Chapter 11 (inserted by the Finance Act, 2002)” after “Chapter 10 (inserted by the Finance Act, 2000)” in each place where it occurs in sections 3(4)(c), 5(1)(a), 7(1) and 8(1),

• (b) by substituting the following for paragraph (b) of section 5(1):

• “(b) the whole of the area to which the town renewal plan relates ought to be a qualifying area for the purposes of one or more of the following provisions of the said Chapter 11—

  • (i) section 372AP, in so far as it relates to conversion expenditure (within the meaning of that Chapter) incurred in relation to a house,

  • (ii) section 372AP, in so far as it relates to refurbishment expenditure (within the meaning of that Chapter) incurred in relation to a house, and

  • (iii) section 372AR in so far as it relates to expenditure incurred on the refurbishment of a house.”,

and

• (c) by substituting in section 6 “paragraph (a), (b), (ba) or (c)” for “paragraph (a), (b) or (c)”.

SCHEDULE 3

Repeals relating to Betting Duties

Repeals

Number and Year	Short title	Extent of repeal
(1)	(2)	(3)
No. 35 of 1926.	Finance Act, 1926.	Sections 24, 25 and 26.
No. 32 of 1929.	Finance Act, 1929.	Sections 30 and 32.
No. 31 of 1931.	Finance Act, 1931.	Sections 17, 18 and 20.
No. 14 of 1940.	Finance Act, 1940.	Sections 16.
No. 9 of 1984.	Finance Act, 1984.	Sections 76.
No. 10 of 1985.	Finance Act, 1985.	Sections 31.
No. 13 of 1986.	Finance Act, 1986.	Sections 71.
No. 10 of 1989.	Finance Act, 1989.	Sections 42.
No. 13 of 1994.	Finance Act, 1994.	Sections 89.
No. 8 of 1995.	Finance Act, 1995.	Sections 113.
No. 9 of 1996.	Finance Act, 1996.	Sections 75.
No. 3 of 1998.	Finance Act, 1998.	Sections 86.
No. 2 of 1999.	Finance Act, 1999.	Sections 117.

SCHEDULE 4

Rates of Excise Duty on Tobacco Products

PART 1

With effect as on and from 6 December 2001

Description of Product	Description of Product	Description of Product	Description of Product	Description of Product	Description of Product	Rate of Duty
Cigarettes	Cigarettes	...	...	...	...	£85.21 per thousand together with an amount equal to 18.73 per cent of the price at which the cigarettes are sold by retail
Cigars	...	...	...	...	...	£129.242 per kilogram
Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling
of cigarettes	of cigarettes	...	...	...	...	£109.061 per kilogram
Other smoking tobacco	Other smoking tobacco	Other smoking tobacco	Other smoking tobacco	...	...	£89.663 per kilogram

PART 2

Section 88(2)(b)

With effect as on and from 1 January 2002

Description of Product	Description of Product	Description of Product	Description of Product	Description of Product	Description of Product	Rate of Duty
Cigarettes	Cigarettes	...	...	...	...	€108.19 per thousand together with an amount equal to 18.73 per cent of the price at which the cigarettes are sold by retail
Cigars	...	...	...	...	...	€164.103 per kilogram
Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling	Fine-cut tobacco for the rolling
of cigarettes	of cigarettes	...	...	...	...	€138.478 per kilogram
Other smoking tobacco	Other smoking tobacco	Other smoking tobacco	Other smoking tobacco	...	...	€113.848 per kilogram

SCHEDULE 5

Rates of Excise Duty on Cider and Perry

PART 1

With effect as on and from 6 December 2001

Description of Cider and Perry	Description of Cider and Perry	Description of Cider and Perry	Description of Cider and Perry	Description of Cider and Perry	Rate of Duty
					£
Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	65.57 per hectolitre
Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not
exceeding 8.5% vol	...	...	...	...	151.59 per hectolitre
Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	215.01 per hectolitre
not exceeding 15% vol	...	...	...	...	215.01 per hectolitre
Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	311.97 per hectolitre
Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	430.02 per hectolitre

PART 2

Section 90(2)(b)

With effect as on and from 1 January 2002

Description of Cider and Perry	Description of Cider and Perry	Description of Cider and Perry	Description of Cider and Perry	Description of Cider and Perry	Rate of Duty
					€
Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	Still and Sparkling: Of an alcoholic strength not exceeding 6% vol	83.25 per hectolitre
Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not	Of an alcoholic strength exceeding 6% vol but not
exceeding 8.5% vol	...	...	...	...	192.47 per hectolitre
Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but	Still: Of an alcoholic strength exceeding 8.5% vol but
not exceeding 15% vol	...	...	...	...	273.00 per hectolitre
Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	Of an alcoholic strength exceeding 15% vol	396.12 per hectolitre
Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	Sparkling: Of an alcoholic strength exceeding 8.5% vol	546.01 per hectolitre

SCHEDULE 6

Miscellaneous Technical Amendments in Relation to Tax

• (a) section 11(3) is amended by substituting “40 cent” for “40 cents” (inserted by the Finance Act, 2001),

• (b) section 12 is amended in subsection (1)(b)(ii) (inserted by the Finance Act, 1987) by deleting “(b), (c) or”,

• (c) section 12C (inserted by the Finance Act, 1999) is amended in subsections (1A), (1B) and (1B)(f) (inserted by the Finance Act, 2000) by substituting “3(5)(c) or (d)” for “3(5)(c)”,

• (d) section 19 is amended in subsection (3)(aa)(vii) by substituting “fourteen” for “twenty-one”, and

• (e) the First Schedule is amended by substituting the following for paragraph (i)(g)(I):

• “(i) (g) (I) a collective investment undertaking as defined in section 172A of the Taxes Consolidation Act, 1997 (as amended by section 59 of the Finance Act, 2000), or”.

• (a) in section 6(2), by substituting “subsection (1)(d)” for “subsection (1)(c)”, and

• (b) in section 31(6), by substituting “sections 6(1)(d) and 12(1)(c)” for “sections 6(1)(c) and 12(1)(b)”.

• (a) in section 116(3)(b), by substituting “€1,905” for “£1,500”,

• (b) in section 121(6)(c), by substituting “Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (c) in section 126(7)(a), by substituting “Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (d) in section 187(2)(b), by substituting “subsections (1)(b), (2) and (3) of that section.” for “subsections (1)(b), (2), (3) and (5) of that section.”,

• (e) in section 244(1), by substituting the following definition for the definition of “dependent relative”:

“dependent relative” in relation to an individual, means any of the persons mentioned in paragraph (a) or (b) of subsection (2) of section 466 in respect of whom the individual is entitled to a tax credit under that section.”,

• (f) in section 372D(3A)(a), by substituting “qualifying street” for “designated street”,

• (g) in section 434(5) (as amended by the Finance Act, 2000)—

• (i) in paragraph (a) by substituting the following for subparagraph (ii):

• “(ii) an amount equal to the aggregate of the amounts of estate income and investment income taken into account in computing the income of the company for the accounting period,”,

and

• (ii) in paragraph (b) by substituting the following for subparagraph (i):

• “(i) an amount equal to the sum of the amounts specified in subparagraphs (i) and (ii) of paragraph (a),”,

• (h) in section 470A(7)(a)(i)(II), by substituting “earlier” for “later”,

• (i) in section 472(2)(a)(ii), by substituting “Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (j) in section 472A(1)(a), in the definition of “qualifying child” by substituting “subsections (4) and (5)” for “subsections (4) and (6)”,

• (k) in section 481(6), by substituting “€250” for “£200”,

• (l) in section 784A(4)(c)(ii)(II), by substituting “Regulation 22(2)(b)(ii) of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Regulation 25(2)(b) of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (m) in section 826(1), by substituting “this section and section 835, the arrangements shall, notwithstanding any enactment” for “this section and sections 168 and 835, the arrangements shall, notwithstanding any enactment other than section 168”,

• (n) in section 903(1), in the definition of “records” by substituting “Regulation 20 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “regulation 22 of the Income Tax (Employment) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (o) in section 959(2), by substituting “that assessment or amended assessment” for “and that assessment or amended assessment”,

• (p) in section 987—

• (i) in subsections (1) and (1A), by substituting “Regulation 31 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Regulation 35 of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)” in both places where it occurs, and

• (ii) in subsection (4)(c), by substituting “Regulation 7(4) of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “regulation 8(4) of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (q) in section 988—

• (i) in subsection (1), by substituting “Regulation 7 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “regulation 8 of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”, and

• (ii) in subsection 3(a), by substituting “Regulation 28” for “regulation 31”,

• (r) in section 990—

• (i) in subsection (1A)(a)(ii), by substituting “Regulation 31 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Regulation 35 of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”, and

• (ii) in subsection (2), by substituting “Regulation 31 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Regulation 35 of the Income Tax (Employment) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (s) in section 991A(a), by substituting “Regulation 29 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Regulation 31A (inserted by the Income Tax (Employments) Regulations, 1989 (S.I. No. 58 of 1989)) of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”,

• (t) in section 995(a)(i), by substituting—

• (i) “Regulation 29 of the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001)” for “Regulation 31A of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960)”, and

• (ii) “Regulation 29 of those Regulations” for “regulation 31A of those Regulations”,

• (u) in section 1022(9) by substituting “performed or discharged” for “performed or authorised”,

• (v) in section 1024(2)(a)—

• (i) in subparagraph (ii), by substituting “subsection (3)” for “subsection (4)”,

• (ii) in subparagraph (iii), by substituting “section 465(3)” for “section 465(4)”,

• (iii) in subparagraph (ix), by substituting “473A” for “474, 474A, 475, 475A”, and

• (iv) by substituting the following for subparagraph (xa):

• “(xa) relief under section 848A(7), to the husband and wife according as he or she made the relevant donation giving rise to the relief;”,

• (w) in section 1025(4)(d), by substituting “section 465(5)” for “section 465(7)”,

• (x) in Schedule 26A, in paragraph 3(c) of Part 3, by substituting “paragraph 2” for “subsection (2)”.

• “(a) references to company were references to body corporate,

• (b) references to companies were references to bodies corporate, and

• (c) references to ordinary share capital were references to issued share capital.”.

• (a) in section 55(b), by substituting “‘Subsections (2) and (4)’ of ‘Subsections (2) to (4)’” for “ ‘Subsections 2 and 4’ of ‘Subsections 2 to 4’”,

• (b) in section 70(2) by substituting “Subsection (1) shall” for “This section shall”,

• (c) in section 71(2) by substituting “Subsection (1) shall” for “This section shall”,

• (d) in section 74(2) by substituting “Subsection (1) shall” for “This section shall”,

• (e) in section 119(3), by substituting “section” for “subsection”,

• (f) in section 232 by substituting the following for subsection (2):

• “(2)

  • (a) In paragraph (b) chargeable period has the same meaning as in section 321(2) of the Principal Act.

  • (b) Paragraphs (b), (c) and (d) of subsection (1) shall apply as respects any chargeable period commencing on or after 15 February 2001.

  • (c) Paragraphs (a) and (e) of subsection (1) shall apply as on and from 15 February 2001.”,

• (g) in section 240(2)(l)(vi), by substituting “section 494(2)” for “section 494(1)”,

• (h) in Schedule 1—

• (i) in paragraph 1(p), by substituting “paragraph (b)” for “paragraph (a)”, and

• (ii) in paragraph 2(g), by substituting “subsection (1)” for “subsection (2)”,

and

• (i) in Schedule 5, in Part 3, under “Finance Act, 1992 (No. 9 of 1992) (as amended):”, by substituting “section 99(1)” for “section 99(3)”.

• (i) subparagraph (a) shall be deemed to have come into force and take effect as on and from 1 January 2002, and

• (ii) subparagraph (b), (c), (d) and (e) shall have effect as on and from the passing of this Act.

• (b) As respects paragraph 2—

• (i) subparagraph (a) shall have effect in relation to gifts taken on or after 1 December 1999, and

• (ii) subparagraph (b) shall have effect in relation to gifts or inheritances taken on or after 1 December 1999.

• (c) As respects paragraph 3—

• (i) subparagraphs (a), (b), (c), (i), (k), (l), (n), (p), (q), (r), (s) and (t) shall be deemed to have come into force and take effect as on and from 1 January 2002,

• (ii) subparagraphs (d), (e), (f), (h), (j), (v), (w) and (x) shall be deemed to have come into force and take effect as on and from 6 April 2001,

• (iii) subparagraph (g) applies as respects the accounting period ending on or after 14 March 2001,

• (iv) subparagraph (o) applies as respects the year of assessment 2002 and subsequent years of assessment and as respects accounting periods of companies ending on or after 1 January 2001, and

• (v) subparagraphs (m) and (u) shall have effect as on and from the passing of this Act.

• (d) Paragraph 4 shall have effect in relation to instruments executed on or after 15 December 1999.

• (e) As respects paragraph 5—

• (i) subparagraphs (a), (b), (c), (d), (f), (g) and (h) shall be deemed to have come into force and take effect as on and from 30 March 2001,

• (ii) subparagraph (e) shall have effect as on and from the passing of this Act, and

• (iii) subparagraph (i) shall be deemed to have come into force and take effect as on and from 1 January 2002.

Footnotes