(1) Section 766 of the Principal Act is amended-

(a) in subsection (1)(a), in the definition of "qualifying group expenditure on research and development", by substituting "€300,000" for "€200,000",

(b) in subsection (1)(b)(viii) by substituting "15 per cent" for "10 per cent", and

(c) in subsection (7B) by substituting the following for paragraph (c):

"(c)

(i) Subject to subparagraph (ii), where a company makes a claim in respect of a specified amount and it is subsequently found that the claim is not as authorised by this section or by section 766A, as the case may be, then the company may be charged to tax under Case IV of Schedule D for the accounting period in respect of which the payment was made or the amount surrendered, as the case may be, in an amount equal to 4 times so much of the specified amount as is not so authorised.