S.I. No. 126/2003 - Finance Act 2001 (Section 30) (Commencement) Order 2003

1. This Order may be cited as the Finance Act 2001 (Section 30 (Commencement) Order 2003.

2. The 6th day of April, 2001, is appointed as the day on which

section 30

of the

Finance Act 2001

(No. 7 of 2001) comes into operation.

Given under my Official Seal,

7

th

April 2003.

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 6 April 2001 as the date for the coming into operation of

section 30

of the

Finance Act, 2001

. This section amends section 472B of the

Taxes Consolidation Act 1997

which provides for a deduction of €6,350 from taxable income for certain seafarers.

Section 30,

Finance Act 2001

, reduces from 169 to 161 the number of days required to be at sea in a year to qualify for the seafarer allowance. The reduction in the number of days will be implemented by this commencement order as European Commission approval to the change was required.

In addition,

section 30

of the

Finance Act 2001

adjusts the number of days at sea and the amount of the allowance to the number and amount appropriate to the 9 month transitional tax year from 6 April to 31 December 2001.

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

section 30

of the

Finance Act 2001

(No. 7 of 2001), hereby order as follows