FINANCE ACT, 1986 (1986_act_13) | IE

ISB Act 1986-05-27

Schedule 1 FINANCE ACT, 1986 Open official source

FIRST SCHEDULE Amendment of Enactments

Amendment of Enactments

Section 3.

Amendments Consequential on Changes in Personal Reliefs

1. The Income Tax Act, 1967, is hereby amended in accordance with the following provisions

(a) in section 138—

(i) in paragraph (a), by the substitution of “£4,000” for “£3,800” (inserted by the Finance Act, 1985),

(ii) in paragraph (b), by the substitution of “£2,500” for “£2,400” (inserted by the Finance Act, 1985) and of “£4,000” for “£3,800” (inserted by the Finance Act, 1985),

and

(iii) in paragraph (c), by the substitution of “£2,000” for “£1,900” (inserted by the Finance Act, 1985),

(b) in section 138A (2) (inserted by the Finance Act, 1985), by the substitution of “£1,500” for “£1,400” and of “£2,000” for “£1,900”,

and

(c) in section 138B (1), by the substitution of “£700” for “£600” (inserted by the Finance Act, 1981) in each place where it occurs.

2. Section 8 of the Finance Act, 1974, is hereby amended, in subsection (1), by the substitution of “£400” for “£200” (inserted by the Finance Act, 1982) and of “£200” for “£100” (inserted by the Finance Act, 1982).

ISB Act 1986-05-27

Schedule 2 FINANCE ACT, 1986 Open official source

SECOND SCHEDULE Approved Share Option Schemes

Approved Share Option Schemes

Section 10.

Interpretation

1.—(1) In this Schedule—

“associated company” has the same meaning as in section 102 of the Corporation Tax Act, 1976;

“control” has the same meaning as in section 158 of the Corporation Tax Act, 1976;

“full-time director” has the same meaning as in section 8 of the Finance Act, 1978;

“grantor” has the meaning given by paragraph 2 (1);

“group scheme” and, in relation to such a scheme, “participating company” have the meanings given by paragraph 2;

“market value” shall be construed in accordance with section 49 of the Capital Gains Tax Act, 1975;

“qualifying employee” in relation to a company, means an employee of the company (other than one who is a director of the company or, in the case of a group scheme, of a participating company) who is required, under the terms of his employment, to work for the company for at least twenty hours a week;

“scheme shares” has the meaning given by paragraph 6; and

“shares” includes stock.

(2) Subsection (3) of section 103 of the Corporation Tax Act, 1976, shall have effect in a case where the scheme is a group scheme, with the substitution of a reference to all the participating companies for the first reference to the company in paragraph (ii) of the proviso to that subsection.

(3) Section 157 of the Corporation Tax Act, 1976, shall apply for the purposes of this Schedule.

(4) For the purposes of this Schedule a company is a member of a consortium owning another company if it is one of a number of companies which between them beneficially own not less than three-quarters of the other company's ordinary share capital and each of which beneficially owns not less than one-twentieth of that capital.

Approval of schemes

2.—(1) On the application of a body corporate (in this Schedule referred to as “the grantor”) which has established a share option scheme, the Revenue Commissioners shall approve the scheme if they are satisfied that it fulfils the requirements of this Schedule, but shall not approve it if it appears to them that there are features of the scheme which are neither essential nor reasonably incidental to the purpose of providing for employees and directors benefits in the nature of rights to acquire shares.

(2) An application under subparagraph (1) shall be made in writing and contain such particulars and be supported by such evidence as the Revenue Commissioners may require.

(3) Where the grantor has control of another company or companies, the scheme may be expressed to extend to all or any of the companies of which it has control and in this Schedule a scheme which is expressed so to extend is referred to as a “group scheme”.

(4) In relation to a group scheme “participating company” means the grantor or any other company to which for the time being the scheme is expressed to extend.

3.—(1) If, at any time after the Revenue Commissioners have approved a scheme, any of the requirements of this Schedule cease to be satisfied or the grantor fails to provide information requested by the Revenue Commissioners under paragraph 14, the Revenue Commissioners may withdraw the approval with effect from that time or such later time as the Revenue Commissioners may specify.

(2) If an alteration is made in the scheme at any time after the Revenue Commissioners have approved the scheme, the approval shall not have effect after the date of the alteration unless the Revenue Commissioners have approved the alteration.

4. If the grantor is aggrieved by—

(a) the failure of the Revenue Commissioners to approve the scheme or to approve an alteration in the scheme, or

(b) the withdrawal of approval,

it may, by notice in writing given to the Revenue Commissioners within thirty days from the date on which it is notified of the Revenue Commissioners’ decision, require the matter to be determined by the Appeal Commissioners, and the Appeal Commissioners shall hear and determine the matter in like manner as an appeal made to them against an assessment and all the provisions of the Income Tax Acts relating to such an appeal (including the provisions relating to the rehearing of an appeal and to the statement of a case for the opinion of the High Court on a point of law) shall apply accordingly with any necessary modifications.

Eligibility

5.—(1) The scheme shall not provide for any person to be eligible to participate in it, that is to say, to obtain and exercise rights under it—

(a) unless he is a full-time director or a qualifying employee of the grantor or, in the case of a group scheme, of a participating company;

(b) at any time when he has, or has within the preceding twelve months had, a material interest in a close company within the meaning of Part X of the Corporation Tax Act, 1976, which is—

(i) a company the shares of which may be acquired pursuant to the exercise of rights obtained under the scheme; or

(ii) a company which has control of such a company or is a member of a consortium which owns such a company.

(2) Notwithstanding subparagraph (1) (a) the scheme may provide that a person may exercise rights obtained under it despite having ceased to be a full-time director or a qualifying employee.

(3) In determining whether a company is a close company for the purposes of subparagraph (1), sections 94 (1) (a) and 95 of the Corporation Tax Act, 1976, shall be disregarded.

(4) In determining for the purposes of this paragraph whether a person has or has had a material interest in a company, subsection (6) of section 97 of the Corporation Tax Act, 1976, and paragraph (ii) of the proviso to section 103 (3) of that Act shall have effect with the substitution for the references in those provisions to 5 per cent. of references to 10 per cent.

Scheme shares

6. The scheme shall provide for directors and employees to obtain rights to acquire shares (in this Schedule referred to as “scheme shares”) which satisfy the requirements of paragraphs 7 to 11.

7. Scheme shares shall from part of the ordinary share capital of—

(a) the grantor; or

(b) a company which has control of the grantor; or

(c) a company which either is, or has control of, a company which—

(i) is a member of a consortium owning either the grantor or a company having control of the grantor; and

(ii) beneficially owns not less than three-twentieths of the ordinary share capital of the company so owned.

8. Scheme shares shall be—

(a) shares of a class quoted on a stock exchange; or

(b) shares in a company which is not under the control of another company; or

(c) shares in a company which is under the control of a company (other than a company which is, or would if resident in the State be, a close company within the meaning of section 94 of the Corporation Tax Act, 1976) whose shares are quoted on a stock exchange.

9. Scheme shares shall be—

(a) fully paid up;

(b) not redeemable; and

(c) not subject to any restrictions other than restrictions which attach to all shares of the same class.

10.—(1) In determining for the purposes of paragraph 9 (c) whether scheme shares which are or are to be acquired by any person are subject to any restrictions, there shall be regarded as a restriction attaching to the shares any contract, agreement, arrangement or condition by which his freedom to dispose of the shares or of any interest in them or of the proceeds of their sale or to exercise any right conferred by them is restricted or by which such a disposal or exercise may result in any disadvantage to him or to a person connected with him.

(2) Subparagraph (1) does not apply to so much of any contract, agreement, arrangement or condition as contains provisions similar in purpose and effect to any of the provisions of the Model Rules set out in the Model Code for Securities Transactions by Directors of Listed Companies issued by the authority of the Council of the Stock Exchange in November, 1984.

11.—Except where scheme shares are in a company whose ordinary share capital consists of shares of one class only, the majority of the issued shares of the same class shall be held by person other than—

(a) persons who acquired their shares in pursuance of a right conferred on them or an opportunity afforded to them as a director or employee of the grantor or any other company and not in pursuance of an offer to the public;

(b) trustees holding shares on behalf of persons who acquired their beneficial interests in the shares as mentioned in paragraph (a); and

(c) in a case where the shares fall within paragraph 8 (c) and do not fall within paragraph 8 (a), companies which have control of the company whose shares are in question or of which that company is an associated company.

Transfer of rights

12.— The scheme shall not permit any person obtaining rights under it to transfer any of them but may provide that if such a person dies before exercising them, they may be exercised after, but not later than one year after, the date of his death.

Share price

13.— The price at which scheme shares may be acquired by the exercise of a right obtained under the scheme shall be stated at the time the right is obtained and shall not be less than the market value of shares of the same class at that time or, if the Revenue Commissioners and the grantor agree in writing, at such earlier time or times as may be provided in the agreement, but the scheme—

(a) may provide for such variation of the price so stated as may be necessary to take account of any variation in the share capital of which the scheme shares form part, and

(b) shall provide that, if it subsequently transpires that the price so stated is less than the market value of the shares of the same class at that time, the said price shall be increased to that market value.

Information

14.— The Revenue Commissioners may by notice in writing require any person to furnish them, within such time as the Revenue Commissioners may direct (not being less than thirty days), with such information as the Revenue Commissioners think necessary for the performance of their functions under this Schedule, and as the person to whom the notice is addressed has or can reasonably obtain, including in particular information—

(a) to enable the Revenue Commissioners to determine—

(i) whether to approve a scheme or withdraw an approval already given; or

(ii) the liability to tax, including capital gains tax, of any person who has participated in a scheme; and

(b) in relation to the administration of a scheme and any alternation of the terms of a scheme.

ISB Act 1986-05-27

Schedule 3 FINANCE ACT, 1986 Open official source

THIRD SCHEDULE Tax Appropriate to the Profits or Gains from Farming

Tax Appropriate to the Profits or Gains from Farming

Section 16.

1. “Tax appropriate to the profits or gains from farming”, in relation to an individual who is chargeable to income tax for a year of assessment in respect of profits or gains from farming, means the amount of tax determined by the formula—

A ____ A B

A

____

A B

C

where—

A is, subject to paragraph 2, the amount of the profits or gains from farming in respect of which the individual is chargeable to tax for that year of assessment (including in the case of a husband who is chargeable to tax for the year of assessment in accordance with the provisions of section 194 (inserted by the Finance Act, 1980) of the Income Tax Act, 1967, any such profits or gains of his wife),

B is the individual's income, other than income included in A, for that year from all sources (including in the case of a husband who is chargeable to tax in accordance with the provisions of the said section 194, any such income of his wife) after deducting from the income from each source the aggregate of the amounts specified in paragraph 3, and

C is the amount of income tax chargeable on the individual's total income for that year before taking account of any relief provided by section 361 of the Income Tax Act, 1967, and section 16.

2. In determining A in paragraph 1, the amount of profits or gains from farming shall be reduced by the aggregate of—

(a) so much of any capital allowance as is to be taken into account in charging the profits or gains to income tax, and

(b) so much of any loss within the meaning of Chapter I of Part XIX of the Income Tax Act, 1967, as is to be, or is regarded as being, deducted from or set off against those profits or gains.

3. In determining B in paragraph 1, the amount to be deducted from the income from a source, in arriving at the amount of income from that source to be included in B is the aggregate of—

(a) so much of the following amounts as is to be deducted from or set off against that income, or as is to be allowed in charging that income to income tax—

(i) any deduction in respect of expenses,

(ii) any deduction in respect of contributions, and

(iii) any capital allowance, and

(b) so much of any loss within the meaning of Chapter I of Part XIX of the Income Tax Act, 1967, as is to be, or is regarded as being, deducted from or set off against the income from that source.

4. In this Schedule “capital allowance”, “deduction in respect of expenses” and “deduction in respect of contributions” have the same meanings as in section 16 of the Finance Act, 1976, and “farming” has the same meaning as in Chapter II of Part I of the Finance Act, 1974.

ISB Act 1986-05-27

Schedule 4 FINANCE ACT, 1986 Open official source

FOURTH SCHEDULE Urban Renewal: Relief from Income Tax and Corporation Tax

Urban Renewal: Relief from Income Tax and Corporation Tax

Section 41.

PART I Interpretation

PART I

Interpretation

In this Schedule—

“thoroughfare” includes any road, street, lane, place, quay, terrace, row, square, hill, parade, diamond, court, bridge, channel and river;

a reference to a line drawn along any thoroughfare is a reference to a line drawn along the centre of that thoroughfare;

a reference to a projection of any thoroughfare is a reference to a projection of a line drawn along the centre of that thoroughfare;

a reference to the point where any thoroughfare or projection of any thoroughfare intersects or joins any other thoroughfare or projection of a thoroughfare is a reference to the point where a line drawn along the centre of one thoroughfare, or in the case of a projection of a thoroughfare, along the projection, would be intersected or joined by a line drawn along the centre of the other thoroughfare or, in the case of another projection of a thoroughfare, along the other projection;

a reference to a point where any thoroughfare or projection of a thoroughfare intersects or joins a boundary is a reference to the point where a line drawn along the centre of such thoroughfare or, in the case of a projection of a thoroughfare, along the projection would intersect or join such boundary.

PART II Description of Custom House Docks Area

PART II

Description of Custom House Docks Area

That part of the county borough of Dublin bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where a line drawn along the westerly projection of the northern boundary of Custom House Quay would be intersected by a line drawn along Memorial Road, then continuing in a northerly direction along Memorial Road and Amiens Street to the point where it joins Sheriff Street Lower, then continuing, initially in an easterly direction, along Sheriff Street Lower and Commons Street to the point where it intersects the easterly projection of the northern boundary of Custom House Quay, and then continuing in a westerly direction along that projection and that boundary and the westerly projection of that boundary to the first-mentioned point.

PART III Description of Designated Areas of Dublin (other than the Custom House Docks Area)

PART III

Description of Designated Areas of Dublin (other than the Custom House Docks Area)

Quays

That part of the county borough of Dublin bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where the northerly projection of Price's Lane intersects the River Liffey, then continuing in a southerly direction along the said projection and Price's Lane to the point where it joins Fleet Street, then continuing in a westerly direction along Fleet Street, Temple Bar and Essex Street East to the point where it joins Crane Lane, then continuing along Crane Lane to the point where it joins Dame Street, then continuing in a westerly direction along Dame Street and Cork Hill to the point where it joins Lord Edward Street, then continuing along Lord Edward Street, Christ-church Place and Nicholas Street to the point where it joins Back Lane, then continuing along Back Lane, Cornmarket, Bridge Street Upper, Wormwood Gate, Mullinahack, Oliver Bond Street and Marshal Lane to the point where it intersects Marshalsea Lane, then continuing, initially in a northerly direction, along Marshalsea Lane to the point where it joins Bonham Street, then continuing in a westerly direction along Bonham Street to the point where it joins Watling Street, then continuing in a northerly direction along Watling Street and Rory O'Moore Bridge to the point where it intersects the River Liffey, then continuing in a westerly direction along the River Liffey to the point where it intersects the southerly projection (hereafter in this description referred to as “the second-mentioned projection”) of Liffey Street West, then continuing in a northerly direction along the second-mentioned projection and Liffey Street West to the point where it joins Benburb Street, then continuing in an easterly direction along Benburb Street to the point where it joins Queen Street, then continuing in a northerly direction along Queen Street to the point where it joins Arran Quay Terrace, then continuing in an easterly direction along Arran Quay Terrace and the easterly projection of Arran Quay Terrace to the point where it intersects the north-westerly projection (hereafter in this description referred to as “the third-mentioned projection”) of Phoenix Street North, then continuing in an easterly direction along the third-mentioned projection, Phoenix Street North and Hammond Lane to the point where it joins Church Street, then continuing in a northerly direction along Church Street to the point where it joins Chancery Street, then continuing in an easterly direction along Chancery Street to the point where it joins Arran Street East, then continuing in a southerly direction along Arran Street East to the point where it joins Strand Street Little, then continuing along Strand Street Little and Strand Street Great to the point where it joins Liffey Street Lower, then continuing in a northerly direction along Liffey Street Lower to the point where it joins the Lotts, then continuing along the Lotts to the point where it joins William's Row, then continuing in a southerly direction along William's Row and the southerly projection of William's Row to the point where it intersects the River Liffey, then continuing in a westerly direction along the River Liffey to the first-mentioned point.

North Inner-City

That part of the county borough of Dublin bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where Abbey Street Lower intersects Marlborough Street, then continuing in a northerly direction along Marlborough Street to the point where it joins Parnell Street, then continuing in a south-westerly direction along Parnell Street to the point where it joins Cavendish Row, then continuing along Cavendish Row, Parnell Square East and Frederick Street North to the point where it joins Hardwicke Street, then continuing along Hardwicke Street to the point where it joins Hardwicke Place, then continuing in a northerly direction along Hardwicke Place to the point where it joins Dorset Street Lower, then continuing along Dorset Street Lower to the point where it joins Gardiner Street Upper, then continuing along Gardiner Street Upper to the point where it joins Sherrard Street Upper, then continuing along Sherrard Street Upper to the point where it joins the North Circular Road, then continuing in an easterly direction along the North Circular Road to the point where it joins Fitzgibbon Lane, then continuing in a south-easterly direction along Fitzgibbon Lane to the point where it joins Fitzgibbon Street, then continuing in a north-easterly direction along Fitzgibbon Street to the point where it joins Charles Lane, then continuing along Charles Lane to the point where it joins Charles Street Great, then continuing in a south-westerly direction along Charles Street Great to the point where it intersects the north-westerly projection of the south-western boundary of Matt Talbot Court, then continuing in a south-easterly direction along the said projection, the said south-western boundary and the south-easterly projection of the said south-western boundary to the point where it joins the north-western boundary of the bus depot (Córas Iompair Éireann), then continuing in a south-westerly direction along the said north-western boundary to the point where it intersects the north-eastern boundary of Mountjoy Place, then continuing in a south-easterly direction along the said north-eastern boundary and the former street known as Hutton's Place to the point where it joins Summerhill, then continuing in a south-westerly direction along Summerhill to the point where it joins the stepped lane connecting Summerhill with Gloucester Place Upper, then continuing in a south-westerly direction along Gloucester Place Upper to the point where it joins Gloucester Place, then continuing in a southerly direction along Gloucester Place, Gloucester Diamond, Gloucester Place Lower and Corporation Street, then continuing, initially in a southerly direction, along Store Street and the part of Store Street on the north-western side of Busáras to the point where it joins Beresford Place, then continuing in a westerly direction along Beresford Place to the point where it joins Abbey Street Lower, then continuing along Abbey Street Lower to the first-mentioned point.

Henrietta Street

That part of the county borough of Dublin bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where the north-westerly projection of Henrietta Lane intersects the eastern boundary of the King's Inns, then continuing, initially in a south-easterly direction, along the said projection, Henrietta Lane and Henrietta Place to the point where it intersects the south-easterly projection (hereafter in this description referred to as “the second-mentioned projection”) of the south-western boundaries of numbers 11, 12, 13, 14 and 15 Henrietta Street, then continuing in a north-westerly direction along the second-mentioned projection, the said south-western boundaries and the north-westerly projection (hereafter in this description referred to as “the last-mentioned projection”) of the said south-western boundaries to the point where the last-mentioned projection intersects the eastern boundary of the Registry of Deeds, then continuing in a northerly direction along the eastern boundary of the Registry of Deeds and of the King's Inns to the first-mentioned point.

PART IV Description of Designated Areas of Cork

PART IV

Description of Designated Areas of Cork

Inner-City

That part of the county borough of Cork bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where St. Vincent's Bridge joins Grenville Place, then continuing in a south-westerly direction along Grenville Place, Prospect Row and Woods Street to the point where the southerly projection of Woods Street intersects the south channel of the River Lee, then continuing, initially in an easterly direction, along the said channel to the point where it joins the northerly projection (hereafter in this description referred to as “the second-mentioned projection”) of Sharman Crawford Street, then continuing in a southerly direction along the second-mentioned projection and Sharman Crawford Street to the point where it joins Bishop Street, then continuing in an easterly direction along Bishop Street to the point where it joins Dean Street, then continuing along Dean Street to the point where it joins Vicar Street, then continuing along Vicar Street to the point where it joins Barrack Street, then continuing in a north-easterly direction along Barrack Street to the point where it joins Reed's Square, then continuing along Reed's Square to the point where it joins Industry Street, then continuing in a north-easterly direction along Industry Street to the point where it joins Evergreen Street, then continuing in a south-easterly direction along Evergreen Street to the point where it joins Abbey Street, then continuing along Abbey Street and Douglas Street to the point where it joins Nicholas Street, then continuing along Nicholas Street to the point where it joins Evergreen Street, then continuing in a south-easterly direction along Evergreen Street to the point where it joins Quaker Road, then continuing along Quaker Road to the point where it joins Summer Hill South, then continuing in a northerly direction along Summer Hill South to the point where it joins Douglas Street, then continuing in a north-westerly direction along Doughlas Street to the point where it joins Langford Row, then continuing along Langford Row and Infirmary Road to the point where it joins South Terrace, then continuing along South Terrace to the point where it joins Cotters Street, then continuing along Cotters Street to the point where it joins Stable Lane, then continuing along Stable Lane to the point where it joins Copley Street, then continuing in a westerly direction along Copley Street and the westerly projection (hereafter in this description referred to as “the third-mentioned projection”) of Copley Street to the point where the third-mentioned projection intersects the south channel of the River Lee, then continuing, initially in a south-westerly direction, along the said channel to the point where it intersects Clarke's Bridge, then continuing in a northerly direction along Clarke's Bridge and Wandesford Street to the point where it joins Hanover Street, then continuing in an easterly direction along Hanover Street to the point where it joins South Main Street, then continuing in a northerly direction along South Main Street to the point where it joins Tobin Street, then continuing along Tobin Street to the point where it joins Grand Parade, then continuing in a northerly direction along Grand Parade to the point where it joins St. Augustine Street, then continuing along St. Augustine Street to the point where it joins South Main Street, then continuing in a northerly direction along South Main Street to the point where it joins Liberty Street, then continuing in a westerly direction along Liberty Street to the point where it joins Grattan Street, then continuing in a northerly direction along Grattan Street and its projection (hereafter in this description referred to as “the fourth-mentioned projection”) to the point where the fourth-mentioned projection joins the north channel of the River Lee, then continuing in an easterly direction along that channel to the point where it joins the southerly projection of Ferry Lane, then continuing in a northerly direction along that southerly projection and Ferry Lane to the point where it joins Dominick Street, then continuing in a westerly direction along Dominick Street to the point where it joins Francis Street, then continuing in a northerly direction along Francis Street to the point where it joins John Redmond Street, then continuing in a westerly direction along John Redmond Street to the point where it joins Exchange Street, then continuing along Exchange Street to the point where it joins Church Street, then continuing in a westerly direction along Church Street to the point where it joins Shandon Street, then continuing in a southerly direction along Shandon Street to the point where it joins Cattle Market Avenue, then continuing along Cattle Market Avenue to the point where it first joins Old Market Place, then continuing in a southerly direction along Old Market Place to the point where it joins Blarney Street, then continuing in a westerly direction along Blarney Street to the point where it joins Rock Villas, then continuing, initially in a southerly direction, along Rock Villas and the stepped lane connecting Rock Villas to Rock Cottages to the point where it joins Rock Cottages, then continuing, initially in an easterly direction, along Rock Cottages and Crispin's Lane to the point where it joins North Mall, then continuing in a westerly direction along North Mall to the point where it joins St. Vincent's Bridge, then continuing in a southerly direction along St. Vincent's Bridge to the first-mentioned point.

Blackpool

That part of the county borough of Cork bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where Popham's Road joins Commons Road, then continuing, initially in a southerly direction, along Commons Road and Blackpool Bridge to the point where it joins Thomas Davis Street, then continuing in a northerly direction along Thomas Davis Street, Dublin Street and Redforge Road to the point (hereafter in this description referred to as “the last-mentioned point”) where the westerly projection of the northern boundary of number 1 Dublin Hill Lower intersects Redforge Road, then continuing in a westerly direction along a line connecting the last-mentioned point to the first-mentioned point.

PART V Description of Designated Area of Limerick

PART V

Description of Designated Area of Limerick

That part of the county borough of Limerick bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where Arthur's Quay joins Francis Street, then continuing in a north-westerly direction along the north-westerly projection of Francis Street to the point where it intersects the River Shannon, then continuing initially in a northerly direction along the River Shannon to the point where it joins the south-westerly projection (hereafter in this description referred to as “the second-mentioned projection”) of the south-eastern wall of King John's Castle, then continuing in a north-easterly direction along the second-mentioned projection and that wall to the point where it joins the north-westerly projection (hereafter in this description referred to as “the third-mentioned projection”) of Curragour Avenue, then continuing in a south-easterly direction along the third-mentioned projection and Curragour Avenue to the point where it joins Newgate Lane, then continuing in a south-westerly direction along Newgate Lane to the point where it joins Crosbie Row, then continuing in a south-easterly direction along Crosbie Row to the point where it joins St. Augustine Place, then continuing in a south-westerly direction along St. Augustine Place to the point where it joins Merchants Quay, then continuing along Merchants Quay to the point where it joins Bridge Street, then continuing in a southerly direction along Bridge Street and Matthew Bridge to the point where it joins Bank Place, then continuing, initially in a north-easterly direction, along Bank Place, Charlotte's Quay and Lock Quay to the point where it joins Curry Lane, then continuing in a southerly direction along Curry Lane to the point where it first joins Old Clare Street, then continuing along Old Clare Street to the point where it joins O'Sullivan's Place, then continuing along O'Sullivan's Place to the point where it joins Moore's Lane, then continuing along Moore's Lane to the point where it joins St. Lelia Street, then continuing in a southerly direction along St. Lelia Street to the point where it joins New Road, then continuing in a south-westerly direction along New Road to the point where it joins John's Street, then continuing in a north-westerly direction along John's Street to the point where it joins Church Street, then continuing along Church Street to the point where it joins Old Francis Street, then continuing in a north-westerly direction along Old Francis Street to the point where it joins Mungret Street, then continuing in a north-easterly direction along Mungret Street to the point where it joins the pedestrian way lying beside the north-eastern boundary of number 72 Mungret Street, then continuing in a north-westerly direction along that pedestrian way and its north-westerly projection to the point where it joins the south-eastern boundary of Tara Court, then continuing in a north-easterly direction along that boundary to the point where it joins the footpath lying along the northern boundaries of Tara Court and St. Michael's Court, then continuing along that footpath to the point where it joins Michael Street, then continuing in a south-westerly direction along Michael Street to the point where it joins Punch's Row, then continuing in an easterly direction along Punch's Row, to the point where it joins Carr Street, then continuing in a southerly direction along Carr Street to the point where it joins Ellen Street, then continuing along Ellen Street to the point where it joins Patrick Street, then continuing in a south-westerly direction along Patrick Street to the point where it joins Honan's Quay, then continuing along Honan's Quay to the point where it joins Arthur's Quay, then continuing along Arthur's Quay to the first-mentioned point.

PART VI Description of Designated Area of Waterford

PART VI

Description of Designated Area of Waterford

That part of the county borough of Waterford bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where Meagher's Quay joins Gladstone Street, then continuing in a southerly direction along Gladstone Street to the point where it joins O'Connell Street, then continuing in a westerly direction along O'Connell Street to the point where it joins Sargent's Lane, then continuing in a southerly direction along Sargent's Lane to the point where it joins King's Terrace, then continuing, initially in a south-easterly direction, along King's Terrace, Carrigeen Park and Stephen's Street to the point where it joins Alexander Street, then continuing in an easterly direction along Alexander Street to the point where it joins Michael Street, then continuing in a northerly direction along Michael Street to the point where it joins Lady Lane, then continuing in an easterly direction along Lady Lane to the point where it joins Saint Francis Place, then continuing in a northerly direction along Saint Francis Place and Olaf Street to the point where it joins High Street, then continuing in a westerly direction along High Street and Blackfriars Street to the point where it joins Broad Street, then continuing in a northerly direction along Broad Street and Barronstrand Street to the point where it joins Meagher's Quay, then continuing in a westerly direction along Meagher's Quay to the first-mentioned point.

PART VII Description of Designated Area of Galway

PART VII

Description of Designated Area of Galway

That part of the county borough of Galway bounded by a line commencing at the point (hereafter in this description referred to as “the first-mentioned point”) where the River Corrib intersects the south-westerly projection of Merchants Road Lower, then continuing, initially in a north-easterly direction, along that projection, Merchants Road Lower and Merchants Road to the point where Merchants Road joins Victoria Place, then continuing in a north-westerly direction along Victoria Place to its intersection with the north-easterly projection (hereafter in this description referred to as “the second-mentioned projection”) of the south-eastern boundary of the Bank of Ireland (National Branch) building, then continuing, initially in a south-westerly direction, along the second-mentioned projection and that south-eastern boundary and the south-western and north-western boundaries of the bank car park to the point where it joins the south-western part of Ballalley Lane, then continuing in a north-westerly direction along Ballalley Lane to the point where it joins Williamsgate Street, then continuing, initially in a south-westerly direction, along Williamsgate Street and William Street to the point where it joins Abbeygate Street Lower, then continuing in a south-easterly direction along Abbeygate Street Lower to the point where it joins Middle Street, then continuing in a south-westerly direction along Middle Street to the point where it joins Cross Street Lower, then continuing in a north-westerly direction along Cross Street Lower to the point where it joins Quay Street, then continuing in a south-westerly direction along Quay Street and Wolfe Tone Bridge to the point where it intersects the River Corrib, then continuing in a south-easterly direction along the River Corrib to the first-mentioned point.

ISB Act 1986-05-27

Schedule 5 FINANCE ACT, 1986 Open official source

FIFTH SCHEDULE Rates of Excise Duty on Tobacco Products

Rates of Excise Duty on Tobacco Products

Section 63.

Description of Product

Rate of Duty

Cigarettes

£35.80 per thousand together with an amount equal to 14.57 per cent. of the price at which the cigarettes are sold by retail.

Cigars

£54.108 per kilogram

Cavendish or negrohead

£54.678 per kilogram

Hard pressed tobacco

£34.967 per kilogram

Other pipe tobacco

£43.955 per kilogram

Other smoking or chewing tobacco

£45.660 per kilogram

ISB Act 1986-05-27

Schedule 6 FINANCE ACT, 1986 Open official source

SIXTH SCHEDULE Rates of Excise Duty on Cider and Perry

Rates of Excise Duty on Cider and Perry

Section 64.

Description of Cider and Perry

Rate of Duty

Of an actual alcoholic strength by volume not exceeding 6 vol

£0.73 the gallon

Of an actual alcoholic strength by volume exceeding 6 vol but not exceeding 8.7 vol

£3.17 the gallon

Of an actual alcoholic strength by volume exceeding 8.7 vol

£9.09 the gallon

ISB Act 1986-05-27

Schedule 7 FINANCE ACT, 1986 Open official source

SEVENTH SCHEDULE Rates of Excise Duty on Spirits

Rates of Excise Duty on Spirits

Section 66.

Description of Spirits

Rate of Duty

Spirits of any description not mentioned hereinafter and imported mixtures and preparations containing spirits

£19.522 per litre of alcohol in the spirits

Imported perfumed spirits entered in such manner as to indicate that the strength is not to be tested

£17.765 per litre

Imported liqueurs, cordials, mixtures and other preparations in bottle entered in such manner as to indicate that the strength is not to be tested

£15.031 per litre

ISB Act 1986-05-27

Schedule 8 FINANCE ACT, 1986 Open official source

EIGHTH SCHEDULE Rates of Excise Duty on Wine and Made Wine

Rates of Excise Duty on Wine and Made Wine

Section 68.

Description of Wine and Made Wine

Rate of Duty

Still

Of an actual alcoholic strength by volume not exceeding 15 vol

£2.00 per litre

Of an actual alcoholic strength by volume exceeding 15 vol

£2.90 per litre

Sparkling

£4.00 per litre

Wine and Made Wine whether still or sparkling of an actual alcoholic strength by volume exceeding 22 vol

An additional duty for every 1 vol or fraction of 1 vol above 22 vol

£0.23 per litre

FINANCE ACT, 1986

Table of Provisions (8)

Statutory Text (8 Articles)

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