The Principal Act is hereby amended by the insertion after Part 11 of the following:

"Part 11A Income Tax and Corporation Tax: Deduction for Expenditure on Construction, Conversion and Refurbishment of Certain Residential Accommodation for Certain Students

380A. Interpretation (Part 11A).

In this Part -

'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 area' means an area or areas specified as a qualifying area in the relevant guidelines;

'qualifying period' means, the period commencing on the 1st day of April, 1999, and ending on the 31st day of March, 2003;

'the relevant guidelines' means guidelines issued for the purposes of this Part by the Minister for Education and Science in consultation with the Minister for the Environment and Local Government and with the consent of the Minister for Finance and, without prejudice to the generality of the foregoing, such guidelines may include provisions in relation to all or any one or more of the following -

(i) the design and the construction of, conversion into, or refurbishment of, houses,