The Principal Act is hereby amended -

(a) in Part 10, by the insertion after Chapter 7 (inserted by this Act) of the following:

"Chapter 8 Qualifying rural areas

Interpretation (Chapter 8).

372L. In this Chapter -

'lease', 'lessee', 'lessor', 'premium' and 'rent' have the same meanings respectively as in Chapter 8 of Part 4;

'market value', in relation to a building, structure or house, means the price which the unencumbered fee simple of the building, structure or house would fetch if sold in the open market in such manner and subject to such conditions as might reasonably be calculated to obtain for the vendor the best price for the building, structure or house, less the part of that price which would be attributable to the acquisition of, or of rights in or over, the land on which the building, structure or house is constructed;

'qualifying period' means the period commencing on such day as the Minister for Finance may by order appoint and ending on the 31st day of December, 2001;

'qualifying rural area' means any area described in Schedule 8A;

'refurbishment', in relation to a building or structure and other than for the purposes of section 372R, means any work of construction, reconstruction, repair or renewal, including the provision or improvement of water, sewerage or heating facilities, carried out in the course of the repair or restoration, or maintenance in the nature of repair or restoration, of the building or structure.

Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures.