The Principal Act is hereby amended -

(a) in Part 10 by the insertion after Chapter 9 (inserted by the Finance Act, 1999) of the following:

"Chapter 10 Designated areas of certain towns

372AA. Interpretation and application (Chapter 10).

(1) 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;

'property developer' means a person carrying on a trade which consists wholly or mainly of the construction or refurbishment of buildings or structures with a view to their sale;

'qualifying area' means an area or areas specified as a qualifying area under section 372AB;

'qualifying period' means, subject to section 372AB, the period commencing on -

(a) in the case of section 372AC and section 372AD, such day as the Minister for Finance may by order appoint, and

(b) in the case of sections 372AE, 372AF, 372AG, 372AH and 372AI, 1 April 2000,

and ending on 31 March 2003;