(1) The Principal Act is amended in section 481 -

(a) in subsection (1) -

(i) by the substitution for the definition of "qualifying company" of the following definition:

" 'qualifying company' means a company which -

(a)

(i) is incorporated and resident in the State, or

(ii) is carrying on a trade in the State through a branch or agency,

(b) exists solely for the purposes of the production and distribution of only one qualifying film, and

(c) does not contain in its name -

(i) registered under either or both the Companies Acts, 1963 to 1999, and the Registration of Business Names Act, 1963, or

(ii) registered under the law of the territory in which it is incorporated,

the words 'Ireland', 'Irish', 'Éireann', 'Éire' or 'National';",

(ii) by the substitution for the definition of "qualifying period" of the following definition:

" 'qualifying period', in relation to an allowable investor company and a qualifying individual, means the period commencing on 23 January 1996, and ending on 5 April 2005;",

and

(b) by the substitution for subsection (2) (c) of the following: