STATUTORY INSTRUMENTS.

S.I. No. 465 of 1999.

URBAN RENEWAL ACT, 1998 (SECTION 20) (COMMENCEMENT) ORDER, 2000.

S.I. No. 465 of 1999.

URBAN RENEWAL ACT, 1998 (SECTION 20) (COMMENCEMENT) ORDER, 2000.

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:

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.

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.