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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 March 2012 - onwards
  Version 3 of 3    

267U. Application.

(1) This Part applies to a specified financial transaction where a person who is -

(a) a party to the transaction, and

(b) within the charge to tax,

makes an election in writing to the appropriate inspector that this Part applies to that transaction.

(2) An election under this section -

(a) shall be made in a form approved by the Revenue Commissioners and containing such particulars relating to the transaction concerned, and the parties to that transaction, as may be specified in that form, and

(b) may be made either in respect of an individual transaction or in respect of a series of transactions of a similar nature.

(3) Where an election is made in accordance with this section -

(a) this Part shall apply to that transaction or series of transactions, and

(b) the party making the election shall notify any other person who is a party to a specified financial transaction, that the transaction is a specified financial transaction.

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