S.I. No. 210/2002 - Finance Act, 2001 (Commencement of Section 64) Order, 2002

1. This Order may be cited as the Finance Act, 2001 (Commencement of Section 64) Order, 2002.

2. The 15

th

day of May, 2002, is appointed as the day on which

section 64

of the

Finance Act, 2001

(No. 7 of 2001), shall come into operation.

Given under my Official Seal,

15

th

May, 2002

________________

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 15

th

May, 2002 as the date for the coming into operation of

section 64

of the

Finance Act, 2001

. That section provides for a scheme of capital allowances in respect of capital expenditure incurred on the construction or refurbishment of buildings used as private hospitals. Capital allowances will be available in respect of qualifying expenditure at the rate of 15 per cent per year for the first 6 years with the balance of 10 per cent being written off in year 7.

I, Charlie McCreevy, Minister for Finance, in exercise of the powers conferred on me by

section 64

of the

Finance Act, 2001

(No. 7 of 2001) hereby order as follows