1. Irish Tax Law
  2. Legislation (IE)
  3. Acts
  4. 2011
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  1. Finance Act 2011 (No. 6)
  2. Part 1 Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-41)
  3. Chapter 5 Corporation Tax (ss. 34-41)
  4. 40. Amendment of section 110 (securitisation) of Principal Act.
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 6 February 2011 - onwards
    Version 1 of 1    

40. Amendment of section 110 (securitisation) of Principal Act.

(1) Section 110(1) of the Principal Act is amended -

(a) by inserting the following definitions after the definition of "authorised officer":

"'carbon offsets' means -

(a) an allowance, permit, licence or right to emit during a specified period, a specified amount of carbon dioxide or any other greenhouse gas as defined in Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 [OJ No. L275 of 25.10.2003, p.32] establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC of 24 September 1996 [OJ No. L257 of 10.10.1996, p.26], where such allowance, permit, licence or right is issued by a State or by an inter-governmental or supra-national institution pursuant to a scheme which -

(i) imposes limitations on the emission of such greenhouse gases, and

(ii) allows the transfer for value of such allowances, permits, licences or rights,

(b) an allowance, permit, licence or right to emit during a s

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