S.I. No. 183/2000 - Finance Act, 2000 (Section 63) (Commencement) Order, 2000.

1. This Order may be cited as the Finance Act, 2000 (Section 63) (Commencement) Order, 2000.

2. The 21st day of June, 2000, is hereby appointed as the day on which

section 63

of the

Finance Act, 2000

(No. 3 of 2000), shall come into operation.

GIVEN under my Official Seal, this 21st day of June, 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 appoints 21st June, 2000 as the date for the coming into operation of

section 63

of the

Finance Act, 2000

. This section amends section 843A of the

Taxes Consolidation Act, 1997

which provides for capital allowances for expenditure on the construction, refurbishment or extension of childcare premises which meet the required standards as provided for in the

Child Care Act, 1991

and the Child Care (Pre-School Services) Regulations, 1996.

For expenditure incurred on or after 1st December, 1999 accelerated capital allowances are allowable. These accelerated capital allowances consist of an initial allowance of 100% which is available to both owner-operators and investors and free-depreciation up to 100% which is only available to owner-operators of such premises.

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

section 63

of the

Finance Act, 2000

(No. 3 of 2000), hereby order as follows