S.I. No. 124/1988 - Finance Act 1987 (Designation of Urban Renewal Areas) Order, 1988.

1. This Order may be cited as the

Finance Act, 1987

(Designation of Urban Renewal Areas) Order, 1988.

2. The definition of "designated area" contained in

section 41

of the

Finance Act, 1986

(No. 13 of 1986), shall include each of the areas described in Part II of the Schedule to the

Urban Renewal Act, 1986

(Designated Areas) Order, 1988 (

S.I. No. 92 of 1988

).

3. The definition of "qualifying period" contained in

sections 42

,

44

and

45

of the

Finance Act, 1986

, shall, in relation to each of the designated areas specified in the said Part II, be construed as a reference to the period commencing on the 9th day of July, 1987 and ending on the 31st day of May, 1991.

GIVEN under my Official Seal, this 14th day of June, 1988.

RAY MACSHARRY,

Minister for Finance.

EXPLANATORY NOTE

This Order declares certain urban areas to be designated areas for the purposes of the incentive tax reliefs for urban renewal provided for in the

Finance Act 1986

, comprising of capital allowances for commercial buildings, owner-occupier allowance and double rent allowance. The Order also prescribes, in relation to such areas, the period for the availability of these incentives.

S.I. No. 124 of 1988.

FINANCE ACT 1987 (DESIGNATION OF URBAN RENEWAL AREAS) ORDER, 1988.

I, RAY MACSHARRY, Minister for Finance, in exercise of the powers vested in me by

section 27

of the

Finance Act, 1987

(No. 10 of 1987), after consultation with the Minister for the Environment, hereby order as follows