S.I. No. 465/1999 - Urban Renewal Act, 1998 (Section 20) (Commencement) Order, 2000.

1. This Order may be cited as the Urban Renewal Act, 1998 (Section 20) (Commencement) Order, 2000.

2. (1) The amendment to the

Taxes Consolidation Act, 1997

(No. 39 of 1997), provided for by subsection (1) of

section 20

of the

Urban Renewal Act, 1998

(No. 27 of 1998), shall come into operation on 5 January 2000 to the extent specified in paragraph (2) of this Article.

(2) The provisions of subsection (1) of

section 20

of the

Urban Renewal Act, 1998

, shall come into operation by virtue of paragraph (1) of this Article are—

(

a

) paragraph (a)(i) of that subsection, in so far as it amends the definition of “the specified period” as provided for in paragraph (b) and paragraph (c) of the amended definition of that period contained therein,

(

b

) paragraph (a)(ii) of that subsection, in so far as it amends the period to be construed as “the specified period” as provided for in subparagraph (ii) and subparagraph (iii) of the amendment contained therein, and

(

c

) paragraph (b) of that subsection.

GIVEN under my Official Seal, this 5th day of January, 2000.

CHARLIE McCREEVY,

Minister for Finance.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order commences certain provisions of

section 20

(1) of the

Urban Renewal Act, 1998

which provide for amendments to

section 322

and

section 323

of the

Taxes Consolidation Act, 1997

(i.e. relating to the application of tax incentives to the Custom House Docks Area in Dublin). The Order is made under

section 2

(5) of the

Urban Renewal Act, 1998

, as amended by

section 42

of the

Finance Act, 1999

, which provides the authority to commence individual provisions of

section 20

(1) of the

Urban Renewal Act, 1998

without commencing the whole subsection. Inter alia, the Order brings into force the provisions regarding the end dates for expenditure for residential reliefs and capital allowances in regard to the 27 acre site in the Custom House Docks Area without implementing any change in regard to the double rent allowance. This Order also, by commencing an amendment to

section 322

(2) of the

Taxes Consolidation Act, 1997

, enables Orders to be made to extend the end-dates for residential reliefs and capital allowances in the 12 acre site in the Custom House Docks Area.

I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by

section 2

(5) of the

Urban Renewal Act, 1998

(No. 27 of 1998), as amended by

section 42

of the

Finance Act, 1999

(No. 2 of 1999), hereby order as follows