Section 195 of the Principal Act is amended in subsection (3) -
(a) in paragraph (a) by substituting "subject to paragraphs (aa) and (b)" for "subject to paragraph (b)", and
(b) by inserting the following after paragraph (a):
"(aa) The amount of the profits or gains for a year of assessment which an individual shall be entitled to have disregarded for the purposes of the Income Tax Acts by virtue of paragraph (a) shall not exceed €40,000 for the year of assessment 2011 and each subsequent year of assessment.".